Shouchuang Futures: The second round of US-Iran negotiations is undecided, gold and silver slightly retreat

The Iran situation continues to affect the gold and silver markets in the short term. As the second round of negotiations remains undecided, gold and silver prices fell slightly today. Washington, who has been nominated for the next Federal Reserve Chair, will travel to appear before the Senate Banking Committee for a hearing on Tuesday. Washington will place “independence” at the core of his remarks. He believes that monetary policy should not be used as a tool for short-term political goals, and he also emphasizes that the Federal Reserve’s credibility comes from institutional constraints and policy discipline. From a fundamental perspective, the medium- and long-term support logic for gold has not changed despite short-term fluctuations. Due to strong uncertainty surrounding the US-Iran situation, technical factors also cannot provide a clear trend, and with volatility remaining relatively high, short-term one-way trading is not suitable; it is recommended to focus mainly on waiting and watching. (First Capital Futures)