Core Viewpoint - Gold stocks are experiencing a significant rise following dovish comments from Federal Reserve Chairman Jerome Powell, indicating a potential shift in monetary policy that could favor gold prices [1] Group 1: Market Performance - Gold stocks are all up, with Zijin Mining (02899) increasing by 3.58% to HKD 23.7, China National Gold (02099) rising by 3.24% to HKD 87.6, Lingbao Gold (03330) up by 1.92% to HKD 11.16, and Shandong Gold (01787) gaining 1.95% to HKD 27.2 [1] Group 2: Economic Indicators - Powell's remarks at the Jackson Hole conference highlighted increasing downside risks to employment, suggesting a need for policy adjustments [1] - The Federal Reserve's revised long-term goals indicate a return to a "flexible inflation targeting" approach [1] - Following the conference, traders raised the probability of a rate cut in September from 75% to 90% [1] Group 3: Analyst Insights - Guosheng Securities noted that the significant downward revision of employment numbers on August 1 indicates that U.S. policy rates remain in a restrictive range, confirming the direction towards rate cuts [1] - Concerns about inflation limiting the Fed's rate cut path have been alleviated by Powell's comments, which may lead to increased gold prices [1] - UBS forecasts that momentum from the U.S. will continue to drive gold prices upward into next year, raising their target price for gold to USD 3,700 per ounce by June 2024, an increase of USD 200 [1]