Besent's statement + Non-farm revision: Is the Fed's 'dovish soul' about to awaken? Gold continues to fluctuate and rebound, as the market frees itself from 'hawkish anxiety': 1️⃣ Policy direction: Treasury Secretary Besent stated that even if Walsh takes over the Fed, balance sheet reduction won't be aggressively pushed forward, with priority given to maintaining financial stability. 2️⃣ Employment suspense: Tomorrow night’s non-farm payrolls report isn’t just about the new jobs added, but also that 911k revision. A significant downward adjustment in hiring speed will provide the strongest evidence for the Fed's 'cautious' approach. 3️⃣ Geopolitical variables: U.S.-Iran negotiations remain unresolved, and geopolitical risks continue to underpin precious metals. Whether it’s gold or the crypto market, facing a revision of 911k on this scale, market volatility could far exceed expectations. 'Light positions for the holiday' is the smartest strategy for Wednesday’s non-farm payrolls. Keep enough cash flow, and wait for the data to drop before seeing who the real 'dark horse' is.