美联储400亿购债，对黄金影响多大？

Group 1 - The Federal Reserve has lowered interest rates by 25 basis points, marking the last rate cut expected in 2025, while also initiating a monthly purchase of $40 billion in Treasury securities to maintain adequate reserve supply [1][2] - The recent bond purchases are not considered quantitative easing (QE) but are aimed at alleviating short-term financing costs, indicating a measured approach rather than a broad stimulus [2][3] - The Fed's dot plot reveals significant divergence among officials regarding future rate cuts in 2026, with varying opinions on the extent of potential cuts, highlighting internal conflicts and the importance of the new chairperson's stance after Powell's departure [6] Group 2 - Following the Fed's decision, gold prices initially dropped to $4,182 before rebounding to $4,150, aligning with market expectations and indicating ongoing volatility in the gold market [7][8] - The gold market remains in a broad range, with key support identified at $4,180 and resistance at $4,220, suggesting that the recent rate cut alone is insufficient to drive a strong directional trend [8][10] - The future of gold prices is closely tied to the new Fed chair's monetary policy stance, with the current market lacking strong fundamental drivers for a sustained upward movement [10]