CICC Research Report: The pullback in gold prices is influenced by the US Iran conflict and expectations of Federal Reserve policies, and the bull market has not yet ended

According to the Zhongjin Research Report, international gold prices have fallen below $4000 per ounce since March, with a pullback of more than 25% from the high of $5321 per ounce at the beginning of March, mainly due to the inflation expectations raised by the US Iran conflict and the hawkish statements of Federal Reserve Chairman Kevin Walsh. China International Capital Research Report believes that US inflation may have peaked, and Federal Reserve Chairman Kevin Walsh has stated that there is room for future policy easing. This round of gold pullback is not the end of the bull market, and it is recommended to maintain positions and buy on dips.