Strategist: The new Federal Reserve Chairman may be more compliant with Trump, which will strengthen the upward trend in gold.

Trump has previously stated that he will soon announce his choice for the Federal Reserve chairman, and he expects that interest rates will decrease after the new chairman takes office. Nitesh Shah, the commodity strategist at WisdomTree, pointed out that the reality is that any nominated candidate may not resist Trump's demands as resolutely as Powell did, which is favorable for gold. In terms of gold jewelry consumption, I believe that high prices will suppress demand, but the current high levels may to some extent drive speculative investments on the retail side.