Gold prices continue to rise, analysts remind to be wary of high profit-taking risks

According to BlockBeats, on September 2, gold futures continued to rise after hitting an all-time high, driven by expectations of interest rate cuts and geopolitical tensions. Current gold trading is around US$3547, up 0.88% intraday and climbed to US$3557.10 per ounce during the session. FxPro analyst Alex Kuptsikevich pointed out in a research report that macroeconomic and geopolitical news continues to be beneficial to precious metals, and there are reports that India is actively selling U.S. government bonds and increasing its gold reserves. He also said that the lack of progress in the peace negotiations between Russia and Ukraine has also boosted the demand for safe-haven. Kuptsikevich said the more obvious positive factor in the short term is the rising market expectations for the Fed's interest rate cut in September. But he reminded investors to be cautious when participating in this round of gold rally, as historical highs often trigger large-scale profit-taking, as happened in April this year. (Jin Shi)