$XAU Gold price trend—it's even more thrilling than riding a roller coaster! Over the past 7 days, domestic gold prices in China have been jumping up and down with swings of nearly 30 yuan. Today, they finally managed to catch their breath at the 950-yuan mark.
International gold prices are also locked in a tug-of-war around the $4,400 level. On one side, Houthi forces in the Middle East are stirring things up, and a rebound in oil prices is fueling inflation concerns; on the other, the probability of the Fed raising rates in September has surged to 60%, and U.S. Treasury yields are climbing fast—which is like a “tightening spell” for non-yielding gold.
But don’t panic: the central bank has been buying for 22 consecutive months, and foreign reserves remain above $3.4 trillion. In plain terms, the state-backed buyers are stockpiling gold like crazy—does that not say it all? Today, retail gold shop prices in China were raised again by 4 to 10 yuan. Chow Sang Sang, for example, is selling at 1,336 yuan per gram. For friends buying jewelry, it looks like you’ll probably feel the pinch again.
Right now, the short-term drivers are geopolitical risk hedging and rate-hike expectations fighting it out—“like gods battling.” As ordinary people, don’t gamble on the short-term. Stick to a plan: buy in batches when prices dip. After all, real gold doesn’t fear fire refining. Have you boarded today? Chat in the comments!
International gold prices are also locked in a tug-of-war around the $4,400 level. On one side, Houthi forces in the Middle East are stirring things up, and a rebound in oil prices is fueling inflation concerns; on the other, the probability of the Fed raising rates in September has surged to 60%, and U.S. Treasury yields are climbing fast—which is like a “tightening spell” for non-yielding gold.
But don’t panic: the central bank has been buying for 22 consecutive months, and foreign reserves remain above $3.4 trillion. In plain terms, the state-backed buyers are stockpiling gold like crazy—does that not say it all? Today, retail gold shop prices in China were raised again by 4 to 10 yuan. Chow Sang Sang, for example, is selling at 1,336 yuan per gram. For friends buying jewelry, it looks like you’ll probably feel the pinch again.
Right now, the short-term drivers are geopolitical risk hedging and rate-hike expectations fighting it out—“like gods battling.” As ordinary people, don’t gamble on the short-term. Stick to a plan: buy in batches when prices dip. After all, real gold doesn’t fear fire refining. Have you boarded today? Chat in the comments!
