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2026-10-31 08:40:25
[Safe-haven funds flow into US Treasuries, gold prices may remain weak in the short term] ⑴ After a brief rebound, international gold prices returned to weakness, falling below $4,000/ounce again. On October 30, London spot gold once fell below $3,970/ounce, a cumulative drop of more than 15% from the intraday high on August 25. ⑵ The main Shanghai gold futures contract also continued its weakness, hitting a low of 854.72 yuan/gram, the lowest price since 2026. ⑶ Industry insiders said that the flow of some safe-haven funds into US Treasuries instead of gold, high oil prices pushing up inflation expectations, and the Federal Reserve's hawkish monetary policy stance are the main pressures on the current gold market. ⑷ Changes in the flow of funds into gold ETFs have also exacerbated market concerns about short-term trends. In the short term, gold prices may remain weak and volatile. ⑸ Whether prices can stabilize in the future still depends on geopolitical situations, international oil prices, US inflation data, and changes in real interest rates.
