Group 1 - Powell's speech at the Jackson Hole global central bank meeting signals a potential shift in monetary policy, indicating that the Fed is open to interest rate cuts due to rising risks in the labor market and economic growth slowdown [1] - The current economic environment, characterized by high tariffs and tightened immigration policies, still shows resilience, but significant slowdowns in the labor market and economic growth are evident [1] - The expectation of a rate cut in September could enhance market enthusiasm for gold, as lower interest rates increase the investment appeal of non-yielding assets like gold [1] Group 2 - Gold prices surged to a high of 3378, driven by rising expectations of rate cuts, increasing economic risks, and a weakening dollar [2] - The market's shift from prioritizing anti-inflation measures to balancing employment and inflation reflects in gold pricing, indicating a potential onset of a loosening cycle [2] - Key upcoming economic indicators, such as the August non-farm payroll data and CPI, along with the Fed's September meeting, will be crucial in determining the sustainability of rate cut expectations and their impact on gold's medium to long-term trends [2]