Everbright Futures: Waller's debut was hawkish, and gold may experience short-term low-level fluctuations

Walsh's debut was more hawkish than expected. From a results-oriented perspective, this is somewhat bearish for gold. However, since this has previously been priced in, the short-term negative impact on gold may not last. Yet, from the perspective of interest rate hike expectations, the bearish effect could be more medium-term. In addition, with the signing of the U.S.-Iran memorandum of understanding, market attention may shift to the navigation issues of the Strait of Hormuz and crude oil prices, and then to forecasts regarding the future path of interest rates. Overall, gold may continue to fluctuate at low levels.