Spot gold broke above $4,656.85 per ounce, hitting a near three-month high and extending its rally for a third straight week. After the US Treasury took bold intervention measures in the bond market, renewed concerns about dollar weakness prompted investors to shift into other assets. Goldman Sachs' latest report shows macro funds accelerated gold buying last week, betting prices will rise to between $4,800 and $5,500, and long positions on Goldman's trading desk now account for 60 percent. CICC Wealth Futures said the market has almost reached a consensus on gold's rise. Besides dollar weakness, concerns about credit risk from weakening demand for US Treasuries and rising expectations that the Federal Reserve may be forced to cut rates or even ease policy are also growing. The Bosera Gold ETF rose more than 1.7 percent intraday, with turnover of nearly 900 million yuan. Its average daily turnover over the past year was 1.329 billion yuan. The latest net inflow was 5.5879 million yuan, with net inflows on 15 of the past 22 trading days, bringing total inflows to 199 million yuan.
Goldman Sachs Group Inc
Lanzhou Huanghe Enterprise Co Ltd
Cofco Biochemical Anhui Co Ltd