The global gold market experienced a dramatic scene before and after the announcement of the Federal Reserve's interest rate meeting results. Before the announcement of the Federal Reserve's interest rate decision on September 16, local time, the international gold price once surged above 4,360 US dollars/ounce, an increase of more than 1% during the day. After the “boot” of the interest rate hike landed, the price of gold dived rapidly and eventually fell 0.7% to 4263.13 US dollars/ounce, a low of nearly four weeks. The poor nature of gold has once again revealed its vulnerable side in an environment where interest rates are rising. The A-share precious metals sector also reacted violently. On September 17, Beijing time, the sector led the decline, closing down more than 5%. However, during the Asian-European trading session on the same day, the London spot gold price fluctuated and climbed to 4,300 US dollars/ounce. At press time, the London Gold was 4326.9 US dollars/ounce, up 1.5%. The market originally anticipated that this would be a “dovish” rate hike, but when it actually came into effect, it showed a “hawk's claw” — not only did the Federal Reserve raise interest rates for the first time after a lapse of more than three years, but it also sent a signal that monetary policy may be further tightened during the year. Interviewees believe that the price of gold is still dominated by range-bound fluctuations. The short-term strengthening can be seen as running out of favor. Mid-term US fiscal pressure and US dollar credit concerns still support the gold allocation.

The global gold market experienced a dramatic scene before and after the announcement of the Federal Reserve's interest rate meeting results. Before the announcement of the Federal Reserve's interest rate decision on September 16, local time, the international gold price once surged above 4,360 US dollars/ounce, an increase of more than 1% during the day. After the “boot” of the interest rate hike landed, the price of gold dived rapidly and eventually fell 0.7% to 4263.13 US dollars/ounce, a low of nearly four weeks. The poor nature of gold has once again revealed its vulnerable side in an environment where interest rates are rising. The A-share precious metals sector also reacted violently. On September 17, Beijing time, the sector led the decline, closing down more than 5%. However, during the Asian-European trading session on the same day, the London spot gold price fluctuated and climbed to 4,300 US dollars/ounce. At press time, the London Gold was 4326.9 US dollars/ounce, up 1.5%. The market originally anticipated that this would be a “dovish” rate hike, but when it actually came into effect, it showed a “hawk's claw” — not only did the Federal Reserve raise interest rates for the first time after a lapse of more than three years, but it also sent a signal that monetary policy may be further tightened during the year. Interviewees believe that the price of gold is still dominated by range-bound fluctuations. The short-term strengthening can be seen as running out of favor. Mid-term US fiscal pressure and US dollar credit concerns still support the gold allocation.