According to Jinshi, Macquarie analysts pointed out in a research report that although gold prices have shown amazing resilience recently, there is little room for further increases. At the beginning of this year, the market's expectations for the Fed's March rate cut were clearly too high, but with federal funds futures currently pricing in three to four rate cuts of 25 basis points each starting in June, the risks have become more balanced. Macquarie said that gold's recent performance has been impressive, and the main reason for its outstanding performance may be strong physical demand, but given the inverse relationship between prices and changes in physical demand, this is unlikely to increase prices in the short term. On the contrary, the macro-financial background later this year will be more favorable, pushing gold prices to new highs.

#美联储