When Trump came to power, the market was generally optimistic about risky assets, and precious metals such as gold experienced a wave of declines. This is a normal reaction. At present, the market is optimistic about the US stock market, and many people have gone long on US stocks, expecting that Trump's tax cuts will further stimulate the economy. However, with the expansion of the fiscal deficit caused by the tax cuts and the breakthrough of the government debt ceiling, inflationary pressure may rise again. At that time, the safe-haven property of gold will be favored by the market again, and the price may rise sharply again, similar to 2018 and 2019.

The key lies in whether the logic is correct and whether the market trend is in line with expectations. For assets such as gold, patient layout is the key. Investors do not need to rush for quick success, because in the long-term game of the market, the principle of "gold will always shine" still applies.

$