CITIC Securities: Three favorable factors superimposed to build a perfect gold Long framework

Jinshi Data News on October 23rd, CITIC Construction Investment research report believes that although the market has recently reduced the pace of US monetary easing, Trump's trading has spurred inflation expectations, the geopolitical game in the Middle East has intensified, and gold pricing has inflation and geopolitical factors. The key reason why this round of gold prices has hit new highs is the combination of high inflation expectations, the direction of confirmed monetary easing, and the diffusion of geopolitical games, which builds a perfect gold Long framework. How to look at the future gold price? 1. In the short-term perspective, the space of gold price is closely related to the risk sentiment. In terms of time, the November US election results may be a window period for the market to bet on geopolitics. 2. In the medium and long-term perspective, the central point of gold price may have moved up, and this trend deserves attention. The reshaping of the global economic rise pattern and the Supply Chain will move the inflation center up, which will have a long-term impact on the pricing of gold.