Haitong Futures: Risiko geopolitik mendukung logam mulia untuk kenaikan jangka panjang

The Federal Reserve’s dot plot for interest rate decisions shows that most voters are relatively consistent in their stance, indicating only one rate cut within this year. The dollar liquidity restriction experienced in the first three quarters of this year is expected to continue. Currently, geopolitical changes are the biggest factor affecting the precious metals market; Iran has continued to be targeted for assassination by top leaders, retaliating against oil and gas facilities in other Middle Eastern countries, leading to a shift of funds from precious metals to crude oil amid liquidity constraints. Additionally, the Fed has confirmed expectations of liquidity tightening, which may cause a short-term correction in precious metals, awaiting subsequent liquidity easing or a turning point in the conflict for a rebound. From a medium to long-term perspective, the main international geopolitical risk narratives remain unchanged, and it is advisable to buy on dips and hold long-term. The expected price ranges for COMEX gold and silver are respectively $4,700-$5,300 and $70-$100. (Haitong Futures)