Gold held near $3,560 an ounce as the Fed moved closer to cutting interest rates, while Trump warned of sanctions against Russia, political turmoil in Japan and escalating tensions in Venezuela.
Gold holds near historic high
On September 8, world gold prices fluctuated around 3,550 – 3,560 USD/oz, just shy of its record high. Global financial markets are now pricing in 92% Fed likely to cut interest rates by 25 basis points in September, according to CME FedWatch. Domestically, the price of gold jewelry remains high, with many places quoting prices around 1,060 yuan/gramAnalysts say safe-haven capital continues to flow strongly into gold amid falling USD and US bond yields.
Trump warns of phase two sanctions on Russia
President of the United States Donald Trump announced that he was preparing to deploy Phase two of Russia sanctions, directly targeting Moscow’s oil exports and trading partners. The move is seen as a signal of Washington’s tougher stance on the situation in Ukraine, which could add to volatility in global energy markets.
News 8.9: Gold price hits peak, Trump warns of sanctions against Russia
Houthis increase attacks on Israel
Force Houthi in Yemen claimed to have used eight drones to attack multiple targets in Israeli territory, including Ramon Airport, Ben-Gurion International Airport and several military facilities in the Negev, Ashdod and Ashkelon. Israel confirmed that many flights were disrupted.
Japan's political turmoil
Prime minister Ishiba Shigeru unexpectedly announced his resignation after his election defeat, opening a new leadership race in the Liberal Democratic Party (LDP). The candidates for his successor include Takaichi Sanae, Koizumi Shinjiro and Hayashi Yoshimasa. This event raises concerns about the risk of “the weakened trio”: the yen depreciated, bond yields rose and stocks fell. The Japanese market is expected to be volatile in the short term.
US – Venezuela tensions escalate
The US has warned of increasing military pressure on Venezuela, while Caracas has said it is ready to respond. Analysts say the tension could lead to Global oil prices continue to fluctuate, especially in the context of OPEC+ just announcing plans to increase production.
Forecast for US session tonight
Experts predict that gold prices will continue to remain above 3,550 USD/oz if the US CPI and PPI data released this week do not exceed expectations. US stocks are expected to be divided by sector, while geopolitical tensions in Russia-Ukraine, Israel-Middle East and South America continue to dominate investor sentiment.
Gold held steady near a record high as the Fed neared a rate cut, while the world faced a series of new geopolitical risks from Russia, the Middle East, Japan and Venezuela. Investors should carefully monitor US economic data and global political developments to come up with appropriate strategies.
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FAQ – Frequently Asked Questions
1. Why is gold price maintained near record peak?
Gold held steady as expectations of a Fed rate cut, a weaker dollar and geopolitical uncertainty boosted demand for havens.
2. How much can the Fed lower interest rates in September?
According to CME FedWatch, the market prices 92% Fed likely to cut 25 basis points.
3. What is the impact of Trump's sanctions policy on Russia?
If phase two is imposed, Russian oil exports and the global energy market will come under great pressure.
4. Why does Japanese politics have such a strong influence on global finance?
The Prime Minister's resignation has raised concerns about a "weak trinity": a falling yen, rising bond yields, and volatile stocks.
5. How does the US-Venezuela tension affect oil?
Escalating tensions could disrupt supplies, causing world oil prices to fluctuate erratically.
