The reversal of Federal Reserve Chairman Walsh's attitude towards the Federal Reserve's interest rate policy affected the upward trend of gold. Bart Melek, head of commodity research at TD Securities, recently stated that this position could have a significant negative impact on gold in the short term. According to Melek's latest analysis, the market interprets this as the Fed is more likely to raise policy interest rates in September and December, which is very different from what Walsh expected before his speech. This statement also led to a rise in short-term interest rates and a strengthening of the US dollar, and caused the price of gold to fall. He stressed that due to the US Treasury's recent intervention in long-term interest rates in the US bond market, the financial environment has relaxed, and traders have pushed up the price of gold. As a result, the price of gold is likely to recoup some of its recent gains and fall to the lower limit of the 4200 to 4,700 US dollars/ounce trading range before the end of the year. However, he also added that once inflation stabilizes, the Federal Reserve will be confident of gradually lifting the austerity policy to achieve its goal of full employment, thereby supporting the 2027 Q3 gold price target set by TD Securities, that is, the international gold price will rise to 5,350 US dollars per ounce.

The reversal of Federal Reserve Chairman Walsh's attitude towards the Federal Reserve's interest rate policy affected the upward trend of gold. Bart Melek, head of commodity research at TD Securities, recently stated that this position could have a significant negative impact on gold in the short term. According to Melek's latest analysis, the market interprets this as the Fed is more likely to raise policy interest rates in September and December, which is very different from what Walsh expected before his speech. This statement also led to a rise in short-term interest rates and a strengthening of the US dollar, and caused the price of gold to fall. He stressed that due to the US Treasury's recent intervention in long-term interest rates in the US bond market, the financial environment has relaxed, and traders have pushed up the price of gold. As a result, the price of gold is likely to recoup some of its recent gains and fall to the lower limit of the 4200 to 4,700 US dollars/ounce trading range before the end of the year. However, he also added that once inflation stabilizes, the Federal Reserve will be confident of gradually lifting the austerity policy to achieve its goal of full employment, thereby supporting the 2027 Q3 gold price target set by TD Securities, that is, the international gold price will rise to 5,350 US dollars per ounce.