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German Bank: Powell's speech exceeds the expected threshold
On August 23, Jinshi Data reported that analysts at Deutsche Bank stated in a report that the price of gold hit a new record of $2531.6 per ounce on Tuesday, followed by a sharp decline on Thursday. Whether it will further pump in the short term may depend on Powell’s speech. If Powell suggests increasing the intensity of interest rate cuts, gold may be pushed to new heights. Deutsche Bank stated that considering the market has already priced in a reduction of about 100 basis points by the Federal Reserve before the end of 2024, the threshold for positive surprises is high. However, if market expectations are disappointed, gold may come under pressure again.