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Spot gold surges strongly, rising 2.00% intraday to quote at $4,889.39 per ounce
International spot gold experiences a strong rebound, with the daily increase quickly expanding to 2.00%, and the price sharply breaking above $4,889.39 per ounce, showing significant short-term upward momentum and recovering some recent losses.
This round of rally is mainly driven by multiple positive factors resonating together: U.S. inflation data slowing down, market expectations for Federal Reserve rate cuts rising again, the dollar and U.S. Treasury yields weakening simultaneously, reducing the cost of holding gold; combined with ongoing uncertainties in Middle East geopolitical tensions, safe-haven funds continue to flow back into precious metals markets, pushing gold prices higher rapidly.
Meanwhile, COMEX gold futures also strengthen in tandem, approaching a 2.3% increase, and domestic gold T+D and Shanghai Gold futures also follow with significant gains, all closing in the green. The gold-silver ratio continues to improve, and market bullish sentiment is clearly warming.