China Galaxy Securities stated that the hawkish signals from the Federal Reserve regarding future rate cuts have led to a significant rebound in US Treasury yields and the USD, causing a correction in Gold prices. It is believed that the impact of Trump's policies on the future inflation outlook in the USA and the pace of Federal Reserve rate cuts has been fully reflected in the guidance given by the Federal Reserve this time. Currently, market expectations for rate cuts by the Federal Reserve next year have also reached a low level. The hawkish guidance from the Federal Reserve is more about managing expectations under the uncertainty of Trump's policies. With recent US November PCE and other inflation data falling below expectations, the Federal Reserve's policy interest rate is likely to continue to decline. Chicago Fed President Goolsby stated that although the Federal Reserve's stance is cautious, rates may still decrease next year, which will encourage Global ICBCCS Gold ETF to continue increasing their Gold holdings, driving up Gold prices. In addition, Trump has called on the US Congress this week to remove the debt ceiling of the US government. In conjunction with Trump's tax cut policy plan, the scale of US government debt and deficits may accelerate expansion in the future, triggering credit devaluation hedging trades that stimulate an increase in Gold prices.