Gold has been on a downward trend since breaking below 4280. This morning, it dropped straight through 4100, hitting a low of 4025—almost breaking the key 4000 level. In just 2 days, it fell from 4340 to 4025. Powell and others emphasized inflation risks, and the dot plot shows a significant reduction in rate cuts by 2026, with even the possibility of rate hikes. The high-interest-rate environment is bearish for gold while boosting the dollar's strength. As long as real interest rates stay above 2% (inflation not dropping quickly + the Fed not easing significantly), gold prices will still face downside risks. But hey, if it drops, it’s a good chance to buy physical gold at lower prices. Who knows, gold might even hit 3900-3800.