News

BlockBeats News, on September 30, the Reserve Bank of Australia kept the cash rate unchanged at the expected 3.60% on Tuesday, stating that recent data indicates third-quarter inflation may be higher than expected and the economic outlook remains uncertain. The Reserve Bank of Australia believes it is appropriate to remain cautious with policy, but is well positioned to respond to developments in the international situation. After a 25 basis point rate cut in August, the market considers the possibility of further easing this week to be minimal, and with the monthly consumer price index remaining high, the market believes it is better to wait for the full third-quarter inflation report to be released at the end of October. (Golden Ten Data)

BlockBeats News, on September 30, Pepperstone market strategist Ahmad Assiri stated that although gold prices have reached new highs supported by speculative flows and structural demand, the upside for gold prices in the future appears to be fragile. He said that central banks remain active buyers, and institutional portfolios are increasingly raising their gold allocations above the traditional 5% benchmark. Given the macro environment, such as weakening U.S. labor market indicators, gold's role as a hedging and diversification tool may remain solid. A potential U.S. government shutdown could also prompt investors to turn to gold and U.S. Treasury bonds. Although short-term gold fatigue may occur, any profit-taking will be quickly absorbed by demand.