Zhongjin Wealth Futures: It is expected that gold will continue to fluctuate in the short term, continue to pay attention to the direction of geopolitics.

On March 31, Sina Finance reported that Powell said the US monetary policy is currently in an appropriate position. Before evaluating the long-term impact of the Middle East conflict on the economy and inflation, the Federal Reserve will continue to watch and wait. Powell's steady tone, along with the delayed attention from the market to the growth risks brought by higher oil prices, is shifting the pricing of interest rates. The probability of a rate cut one or multiple times is far higher than the probability of a rate hike, and market sentiment has greatly eased. Powell's speech stimulated a sharp rebound in gold prices, but to some extent it is still restrained by the continuously rising oil prices and concerns over geopolitical issues. It is expected that gold will continue to oscillate in the short term, and attention will be paid to the direction of geopolitical politics.