COMEX gold fluctuated in a narrow range during the day. The continued strengthening of the US dollar and the high level of US bond yields still limited the performance of gold prices. The minutes of the Federal Reserve's September interest rate meeting showed that officials unanimously supported the September interest rate hike 25b, and there were major differences over the reasons for the rate hike, but most officials said it was appropriate to raise interest rates again before the end of the year. “Some participants” believe that the longer energy prices remain high, the higher the risk that rising costs in some industries will spread to full inflation, and that it is necessary to raise interest rates to contain the impact of energy and other price shocks; while more hawkish officials believe that in the medium term, total demand for AI construction may exceed total supply and drive up inflation. Further tariff increases are also an upward risk of inflation, and interest rate hikes are needed to prevent emerging demand-driven inflation. However, officials disagree on the need for subsequent interest rate hikes. Combined with the weakening of the US non-agricultural data for September and the fall in the US PCE data for August due to revised statistical methods, the market's expectations for the October rate hike are still relatively limited. However, the strengthening of the US dollar and US bond yields have remained high recently, and the continuous rise in real interest rates has re-strengthened the pressure on gold, yet the central bank's demand for gold purchases and ETF allocation still provides some support. In terms of central bank purchases, Turkey became a net buyer again in August. Central banks around the world continued to buy gold in September. The central bank of China increased its gold holdings for 23 consecutive months. Russia also announced that it will increase the country's foreign exchange and gold purchases to five times that of September from October 7 to November 6, providing support for the gold price center. On the financial side, as of October 7, global gold ETF holdings continued to rise; in the week ending September 29, COMEX gold holdings declined.

COMEX gold fluctuated in a narrow range during the day. The continued strengthening of the US dollar and the high level of US bond yields still limited the performance of gold prices. The minutes of the Federal Reserve's September interest rate meeting showed that officials unanimously supported the September interest rate hike 25b, and there were major differences over the reasons for the rate hike, but most officials said it was appropriate to raise interest rates again before the end of the year. “Some participants” believe that the longer energy prices remain high, the higher the risk that rising costs in some industries will spread to full inflation, and that it is necessary to raise interest rates to contain the impact of energy and other price shocks; while more hawkish officials believe that in the medium term, total demand for AI construction may exceed total supply and drive up inflation. Further tariff increases are also an upward risk of inflation, and interest rate hikes are needed to prevent emerging demand-driven inflation. However, officials disagree on the need for subsequent interest rate hikes. Combined with the weakening of the US non-agricultural data for September and the fall in the US PCE data for August due to revised statistical methods, the market's expectations for the October rate hike are still relatively limited. However, the strengthening of the US dollar and US bond yields have remained high recently, and the continuous rise in real interest rates has re-strengthened the pressure on gold, yet the central bank's demand for gold purchases and ETF allocation still provides some support. In terms of central bank purchases, Turkey became a net buyer again in August. Central banks around the world continued to buy gold in September. The central bank of China increased its gold holdings for 23 consecutive months. Russia also announced that it will increase the country's foreign exchange and gold purchases to five times that of September from October 7 to November 6, providing support for the gold price center. In terms of capital, as of October 7, global gold ETF holdings continued to rise; in the week ending September 29, COMEX gold holdings declined.