Analyst: Spot gold may reach $4,500 ahead of schedule

ChainCatcher news, according to Jinshi reports, KCM Trade's chief market analyst Tim Waterer stated that the target price for spot gold at $4,500 may arrive sooner than expected, largely depending on the duration of concerns over trade tensions and government shutdown.

At the same time, Federal Reserve Governor Waller expressed support for another rate cut, with investors expecting the Fed to cut rates by 25 basis points at the October meeting and again in December. Waterer believes that the intensifying credit concerns among U.S. regional banks provide traders with a reason to buy gold. Gold prices have risen over 65% this year.