Oh my, have you heard the news?

These days, not only are our lives getting better and better, but even the yellow gold and shiny silver are benefiting from the glow, with their prices soaring upwards.

It's like adding a touch of celebration for us seniors!

Today, let's talk about the great joy of the international gold price reaching a new historical high, and explore the reasons behind it and how it has become a hot topic after dinner and tea.

Did you know?

On September 13th, the gold futures price at the New York Commodity Exchange was extremely hot, skyrocketing to $2,594.5 per ounce, a whopping 26% higher than the $2,053 per ounce at the beginning of the year!

That increase is even faster than the improvement in our grandson's exam scores.

Looking domestically, the gold selection index is also rejoicing, with a 3.37% increase at midday close.

Several well-known gold mining company stocks, such as Chifeng Gold, Zijin Mining, and Shandong Gold, are all rising one after another, making people's hearts bloom with joy.

Moreover, silver is following the pace of gold and has also broken through the $30 per ounce mark, reaching $30.305 per ounce.

Although the increase is small, it is moving steadily forward.

Advertisement

The domestic silver market is also in a festive mood, with stocks like Hunan Silver and Xingye Silver rising along with the silver price, making us seniors who invest in silver feel quite pleased.

Speaking of why gold and silver prices can soar so wildly, there are many reasons!

First, we must mention the Federal Reserve's interest rate cut.

Look, the recent economic and unemployment data released by the United States are not very good.

Although the year-on-year growth of PPI has slowed down, it still increased a little bit month-on-month, and the number of unemployment relief recipients has also increased.

This clearly shows that the economy is a bit strained.

The market calculated that the possibility of the Federal Reserve cutting interest rates has increased.

With the warming of the rate cut expectations, gold and silver, as safe-haven assets, have become hot cakes, and their prices naturally soar upwards.

Moreover, the European Central Bank is not lagging behind and has directly cut interest rates.

This reduction has further ignited the market, with bullish funds eager to take action.

Experts from Everbright Futures have said that the European Central Bank's rate cut has ignited the enthusiasm of bullish funds, and the probability of the Federal Reserve cutting rates by more than 50 basis points by November is increasing.

In the short term, the trend of gold and silver is strong.

In addition to the interest rate cut expectations, geopolitical tensions are also an important driver of the rise in gold and silver prices.

Look around the world, there are issues everywhere, with geopolitical tensions as tight as a bowstring, and the U.S. election still undecided.

This uncertainty makes investors nervous.

What do they do when they are nervous?

Buy gold and silver, which are our ancestors' safe-haven treasures that can ensure safety in critical moments.

Furthermore, the global economic recovery is slow, and inflation remains high, with unilateralism and protectionism intensifying.

At this time, the safe-haven and value-preserving functions of gold are remembered by everyone.

Think about it, isn't it more reassuring to hold some gold in your hands?

In the first half of the year, the prices of London's spot gold and the Au9999 price at the Shanghai Gold Exchange were both soaring upwards, and central banks around the world were scrambling to increase their gold holdings, adding 483 tons in the first half of the year, a 5% increase year-on-year, which is a new high for the same period in history!

So, what about the future trend of gold and silver prices?

Experts say that in the short term, they will continue to fluctuate at high levels.

Why?

The expectations of interest rate cuts are still there, and the uncertainties of the U.S. election and geopolitical tensions remain, so the demand for safe-haven assets will not disappear in the short term.

However, the extent of the interest rate cuts is still unknown, which may cause gold and silver prices to fluctuate more violently.

But in general, as long as the world is not peaceful, treasures like gold and silver will continue to shine and heat up.

Therefore, our senior friends, if you have some spare money, you might as well pay attention to the gold and silver market.

Maybe you can seize an opportunity to add some color to your retirement money!

However, investment comes with risks, and entering the market should be done with caution.

We must act within our means and not rush in blindly.