On the macro side, a period of silence began before the Federal Reserve's interest rate meeting. The market focus was on the US-Iran conflict. Yesterday, the US President clearly threw cold water on the prospects of US-Iran talks, saying that Iran wants talks but the US is “not interested” and will “soon” hit the Haoshan nuclear facility hard. Additionally, US Trade Representative Greer hinted that the US will soon introduce a new tariff policy to replace the 10% global import tariff which is about to expire. Since the conflict between the US and Iran broke out again, the sentiment of gold prices has not continued to be pessimistic in the context of repeated trading in inflation and interest rate expectations. Instead, the focus has begun to shift upward, which may indicate that the market's trading logic for gold in the second half of the year is gradually changing, but further observation is needed. Short-term suggestions still focus on defense to deal with the high fluctuation environment. Investors need to continue to pay attention to the US-Iran conflict, the Federal Reserve's policy expectations, and whether overseas financial markets trigger liquidity risks in anticipation of rising interest rates.

On the macro side, a period of silence began before the Federal Reserve's interest rate meeting. The market focus was on the US-Iran conflict. Yesterday, the US President clearly threw cold water on the prospects of US-Iran talks, saying that Iran wants talks but the US is “not interested” and will “soon” hit the Haoshan nuclear facility hard. Additionally, US Trade Representative Greer hinted that the US will soon introduce a new tariff policy to replace the 10% global import tariff which is about to expire. Since the conflict between the US and Iran broke out again, the sentiment of gold prices has not continued to be pessimistic in the context of repeated trading in inflation and interest rate expectations. Instead, the focus has begun to shift upward, which may indicate that the market's trading logic for gold in the second half of the year is gradually changing, but further observation is needed. Short-term suggestions still focus on defense to deal with the high fluctuation environment. Investors need to continue to pay attention to the US-Iran conflict, the Federal Reserve's policy expectations, and whether overseas financial markets trigger liquidity risks in anticipation of rising interest rates.