Shanghai gold broke through the thousand-yuan mark. What risks should we pay attention to in the short term?

Topic: Topic| Milestone breakthrough! The main contract of Shanghai gold futures stands at the 1000-yuan integer mark
In yesterday's night trading, precious metal prices rose and continued to be strong in the morning. As of press time, the main contract of COMEX gold futures once approached US$4400/ounce, the main contract of Shanghai gold exceeded the thousand-yuan mark, and the far-month contract was already above 1,000 yuan. So what are the main drivers in the short term? Gold pricescontinue to break high, what risks should we pay attention to? Let's have a chat today.
First of all, trade frictions have intensified recently. The situation has continued to evolve this week. Market sentiment has been repeated. Uncertainty still hangs over the market. Risk aversion is heating up. Gold serves as a "safe haven" to attract a large influx of funds.
Secondly, the continued shutdown of zf in the United States has led to the suspension of the release of scheduled economic data. Some officials have warned that this may cause large losses to the U.S. economy and provide certain support for precious metal prices.
In addition, Federal Reserve Chairman Powell said in a recent speech that the U.S. labor market shows further signs of difficulties and that the Federal Reserve may be about to end its balance sheet contraction; recent speeches by other Federal Reserve officials are also generally biased. The Federal Reserve is expected to continue to cut interest rates twice during the year. In the near future, we can pay attention to the situation of the interest-rate meeting at the end of October.
Overall, with the support of macro factors, gold prices continue to surge, but attention should still be paid to chasing high risks in the short term. On the one hand, Shanghai gold has exceeded 1000 yuan, and the market may have a certain profit-taking mood, so we can pay attention to the flow of funds in the short term; on the other hand, geopolitical factors have shown signs of easing recently, and we can follow up on the second phase of the Gaza ceasefire negotiations and the meeting between the United States and Russia in Budapest. From a medium-to long-term perspective, the logic of "de-dollarization" and fighting long-term inflation has not changed, and we can continue to pay attention to the upside of gold prices. (Completion time: 2025.10.17 14:15)
This content is only for study and exchange and does not constitute investment advice. Acceptance of this article does not mean that Guotai Junan Futures has established any business relationship with readers. The Company does not provide guarantees for the accuracy, integrity and reliability of information, and investors must bear their own risks. The opinions in this article are only personal analysis of the author and do not represent the company's position. Any form of copying, modification or citation is prohibited without written authorization. If you need to reprint it, please indicate that the source is Guotai Junan Futures to ensure the integrity of the content, and this review is not allowed to be quoted, abridged or modified that is contrary to its original intention.