Non-farm payrolls "ignite" gold, central bank purchases of gold "prolong life": Can the rebound evolve into a second bull market? The market awaits Waller to reveal his cards in Jackson Hole.

According to the Zhitong Finance APP, the gold market in 2026 is a fundamental test of traders' psychological endurance. From a ten-year high of over $5,300 per ounce at the beginning of the year, it plummeted 18% to around $4,000, only to violently surge over 9% in the past two weeks, returning above $4,400gold has undergone a dramatic reversal from "faith collapse" to "king's return" in just six months. Last week, gold recorded its best weekly performance since January, while gold mining stocks achieved the strongest five-day gain since 2008. Behind this seemingly robust rebound, both bulls and bears are engaged in a fierce battle over the Federal Reserve's policy path, geopolitical risks, and global central bank gold purchases.