The results of this FOMC meeting put clear pressure on the short-term trend of gold. The combination of Walsh's “hawkish interest rate hike+hint of continued austerity” means that interest rates are expected to rise, and we need to focus on two variables: one is the trend of the Fed's subsequent economic data, especially whether inflation has declined substantially; the other is whether the long-term yield on US bonds can fall from a high of around 5%.

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