Analyst: If the Fed confirms multiple rate cuts, gold prices may reach new heights.

On September 17, Tuesday, driven by a weakening dollar and clear market expectations for the Fed to implement interest rate cuts, gold prices soared to break $3,700 per ounce, setting a new historical high. Eric Chia, a strategist at brokerage firm Exness, stated: "If the Fed's policy guidance fails to meet the market's expectations for a dovish stance, gold may face selling pressure in the short term. However, as long as the Fed confirms it will make multiple rate cuts, it will provide support for the gold price rise, likely pushing it to new historical highs." Additionally, the continuous gold purchases by central banks, the inflow of funds into gold ETFs, and the escalating geopolitical tensions have intensified the market's demand for safe-haven assets and anti-inflation assets, all of which have contributed to the rise in gold prices. (Jin10)