Sydney:12/24 22:26:56

Tokyo:12/24 22:26:56

Hong Kong:12/24 22:26:56

Singapore:12/24 22:26:56

Dubai:12/24 22:26:56

London:12/24 22:26:56

New York:12/24 22:26:56

2026-07-18 Saturday

2026-07-19

2026-07-17 Friday

20:44:13

[Goldman Sachs: Central Bank Buying Provides a Solid Bottom for Gold; Geopolitical Safe-Haven Demand Will Continue for Several Years] ⑴ Goldman Sachs points out that although expectations of Fed tightening are putting downward pressure on gold prices, the continued strong gold buying by central banks will provide a solid bottom for the gold market. This structural force is sufficient to buffer the selling pressure brought by rising policy interest rates. ⑵ According to institutional estimates, global central banks' net gold purchases in May were approximately 81 metric tons, with a monthly average of approximately 67 metric tons over the past three months, far exceeding the historical average of 17 metric tons before 2022, indicating that official sectors' willingness to allocate gold has reached a new level. ⑶ Goldman Sachs believes that the motivation of central banks to diversify their reserve assets to hedge against geopolitical and financial risks will continue to strengthen. This trend of increasing holdings is expected to continue for many years, with monthly gold purchases projected to remain around 50 metric tons and 40 metric tons in the next two years, respectively. (4) From a trading psychology perspective, central bank buying is stable and planned, unlike the emotional entry and exit of speculative funds. It often provides counter-trend support when gold prices pull back, and investors can use this to correct their simplistic linear judgment on the downside potential of gold.

11:18:12

[Iranian Conflict Fuels Inflation and Interest Rate Hike Expectations; Gold Prices May Record Largest Weekly Drop in Six Weeks] 1. On Friday in Asian trading, spot gold hovered near two-week lows, currently trading around $3988 per ounce, up about 0.3%, but with a cumulative weekly decline exceeding 3%, potentially recording its largest weekly drop in six weeks. The escalating conflict between the US and Iran has pushed up oil prices, exacerbating inflation concerns and reinforcing market expectations of "higher and longer" interest rates. 2. Affected by supply concerns triggered by the escalating US-Iran conflict, oil prices have surged by about 12% so far this week, keeping inflation concerns alive. 3. The escalating conflict between Iran and the United States has essentially dismantled the ceasefire agreement reached last month. Meanwhile, hawkish voices within the Federal Reserve's decision-making body are growing stronger. Dallas Fed President Logan became the first policymaker to publicly call for an interest rate hike since Fed Chairman Warsh took office; Fed Vice Chairman Jefferson hinted that the Fed would be open to raising rates if inflation does not improve in the short term; Kansas City Fed President Schmid stated that inflation continues to be sticky across a broad range of goods and services. 4. On the economic data front, initial jobless claims in the US declined last week; however, US retail sales in June only saw a slight increase, dragged down by falling gasoline prices and sales at gas stations. Today's trading session will see the release of US June housing starts data and the preliminary reading of the University of Michigan Consumer Sentiment Index for July, which investors should pay attention to.

2026-07-16 Thursday

Real-Time Popular Commodities

Instrument Current Price Change

XAU

4016.36

40.10

(1.01%)

XAG

55.884

0.395

(0.71%)

CONC

81.77

3.49

(4.46%)

OILC

88.08

3.22

(3.80%)

USD

100.759

0.039

(0.04%)

EURUSD

1.1438

-0.0004

(-0.03%)

GBPUSD

1.3455

-0.0022

(-0.17%)

USDCNH

6.7769

0.0044

(0.06%)