Powell's dovish tones resonate! The expectation of three rate cuts ignites the market, spot gold surges by $40 breaking the $3370 threshold

According to Jin Ten data reports, the market's expectations for the Federal Reserve's monetary policy are undergoing a significant shift, with multiple institutional leaders interpreting Powell's statements, releasing clear signals for rate cuts, causing spot gold to soar, presenting a 'celebration market'.

Market strategist Art Hogan stated that Powell is likely to take rate cuts three times in September, October, and December, with the core logic behind this decision being the weak signals from the labor market, rather than the rise in core commodity prices caused by tariffs, indicating that the rate cuts are more about proactively 'stabilizing the economy'.

Meanwhile, Jay Hatfield, CEO of New York Infrastructure Capital Management, further pointed out that Powell's current statement is 'more dovish than the market expected'—not only responding positively to the weakening labor market but also clearly acknowledging the risks facing the economy, which has laid a solid foundation for the September rate cut. Hatfield revealed that his team had long anticipated rate cuts, hence their neutral stance towards the market; it's worth noting that the autumn market has often leaned bearish in previous years, and maintaining a neutral stance now is already an optimistic performance, he himself feels 'comforted' by Powell's statement this time.

The shift in policy expectations directly triggered the precious metals market. Spot gold prices strongly broke through the $3370/ounce threshold, with gold prices rising nearly $40 after Powell released hints of rate cuts, with intraday gains exceeding 1%, making it one of the 'biggest winners' under this policy signal.$BTC $ETH $SOL