Ge Long Hui·2026-02-05 02:37Group 1 - The report from Zhongyin International indicates that the nomination of Waller as the new chairman of the Federal Reserve by Trump has led to a significant sell-off in the precious metals market, with gold prices dropping over 21% from a historical high of $5,600 per ounce within two days [1] - The firm maintains that the argument for gold as a true safe-haven asset alternative to dollar-denominated assets remains valid, regardless of who the new Federal Reserve chairman is, and anticipates that the U.S. will likely reduce interest rates by 2026 [1] - Zhongyin International reiterates an "overweight" rating on the Chinese gold industry, forecasting an average gold price of $4,800 per ounce in 2026, which still has potential for upward movement [1] Group 2 - Shandong Gold and Zhaojin Mining remain the firm's top stock picks, with "buy" ratings and target prices set at HKD 52.06 and HKD 44.78, respectively [1]