Gold prices continued to rise during the September 10 trading session as investors awaited the U.S. Consumer Price Index (CPI) report. Although the critical $2,500/oz level was maintained, experts believe that gold needs a new “catalyst” to make a more significant breakout.

Gold Prices Increase Slightly

By the end of the New York trading session, spot gold had risen by $9.10/oz, reaching $2,517/oz. At the start of the Asian trading session, the price continued to climb slightly to $2,518/oz. Converted at Vietcombank’s exchange rate, this price is approximately 75.3 million VND per tael, up 300,000 VND per tael from the previous day.

Awaiting Impact from U.S. CPI Report

Experts indicate that the gold market is in a holding pattern, awaiting the U.S. inflation report and the presidential debate between Donald Trump and Kamala Harris. The CPI report, along with the Producer Price Index (PPI), will significantly influence the Federal Reserve’s decision on interest rate cuts in the upcoming meeting.

Interest Rate Forecast and Its Impact on Gold

Traders are currently betting 100% on the Fed lowering interest rates, with 71% believing the cut will be 0.25 percentage points. Any deviation from the CPI forecast could lead to significant changes in interest rates and asset prices, including gold.

Future Potential for Gold Prices

Despite nearing record highs, experts still see significant potential for gold price increases. Fund manager Eric Strand believes that prices below $4,000/oz remain undervalued. He predicts that, given the enormous public debt of the U.S., investors will continue to view gold as a safe asset in the long term.

Conclusion:

Gold prices continue to rise but need a new catalyst to make a strong breakout. The U.S. CPI report and the Fed’s decisions will be crucial factors affecting future price trends.

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