Yesterday's Market Recap! The Fed's “Rate-Hike Relay Race” Behind Gold's Surge
I. The Direct Trigger Behind Gold's Sharp Move
Around August 25, gold surged sharply, rebounding nearly $200 from its low. The market initially suspected that the move was driven by initial jobless claims data, but the actual core catalyst was the “dovish shift” in remarks by Fed Governor Waller.
• Initial jobless claims data: Initial jobless claims released in August came in at 306k versus expectations of 305k, a difference of only 1,000 people. This was statistical noise and insufficient to trigger such a large mo