Recently, Chief Economist Hong Hao of Sui Rui expressed that gold will continue to hit new highs. He pointed out that if the Fed cuts interest rates, the holding cost of gold will decrease, as holding gold earns no interest, while holding US government bonds does. The previous logic of investing in gold was mainly triggered by the absence of purchasing power of sovereign currency, as well as distrust of the existing US dollar credit system. Now, although the logic of sovereign debt and purchasing power still exists, the opportunity cost is decreasing, so gold will continue to hit new highs.