Understanding the Market | Gold stocks rise across the board as Powell states that restrictive policies may be adjusted, and interest rate cut expectations may drive gold prices to new highs
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Gold stocks rose across the board, with Zijin Mining up 3.58% and CHINAGOLDINTL up 3.24%. Powell stated at the Jackson Hole annual meeting that restrictive policies may be adjusted, with interest rate cut expectations rising to 90%. Guosheng Securities pointed out that the direction for interest rate cuts has been established, which may drive gold prices higher. UBS expects the upward trend in gold to continue until next year, raising the target price to USD 3,700 per ounce
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