On September 15, persistently weak U.S. economic data, Trump's pressure for rate cuts raising concerns about the Fed's independence, and escalating geopolitical tensions fueled market risk aversion, driving gold prices higher. COMEX gold futures broke through previous highs to reach $3,724.9 before slightly pulling back by the close. At settlement, COMEX gold futures rose 0.90% to $3,719.50 per ounce. By the close of the Asian market, Gold ETF Hua Xia (518850) fell 0.24%, while Gold Stock ETF (159562) fell 1.26%.

On the news front, Trump posted on his social platform "Truth Social," stating that "Too Little, Too Late" Fed Chair Powell must cut interest rates immediately and more significantly than anticipated. The U.S. August unemployment rate rose to 4.3%, the highest in nearly four years, while the September New York Fed Manufacturing Index plummeted 21 points to -8.7, far below market expectations of 5. Deteriorating employment and economic data have strengthened market expectations for a Fed rate cut.

Relevant analysis points out that overall market sentiment continues to provide strong support for gold. Low U.S. Treasury yields, a generally weaker dollar, and persistent geopolitical risks have all reinforced gold's safe-haven demand, keeping it well-positioned near historical highs with room to continue its upward trend.