Minmetals Futures: Precious metal prices will experience a short-term correction

Precious metal prices are significantly affected by news developments. After the United States launched strikes on Iran’s Halk Island military targets and Pakistan proposed extending the negotiation deadline by two weeks, positive progress has emerged in the standoff involving the U.S. and Iran. This morning, President Trump announced his agreement to a two-week, two-way ceasefire, and to suspend attacks against Iran, stating that both sides have already made substantial progress toward the final version of a long-term peace agreement, and Israel has also simultaneously agreed to the ceasefire. Federal Reserve Vice Chair Jefferson and the president of the New York Fed both said that the current policy interest rate is in an appropriate range, core inflation remains stable, and they are watching for downside risks in the labor market. U.S. Treasury yields have fallen, and precious metal prices are expected to undergo a short-term correction and rebound afterward. Strategically, it is recommended to take a short-term bullish stance. (Minmetals Futures)