English Translation:

Odaily Planet Daily News:

1. Early this morning, the Federal Reserve cut interest rates by 50 basis points. The dot plot indicates that the Fed will cut rates by another 50 basis points this year and 100 basis points next year. Governor Bowman, however, voted to cut rates by 25 basis points. Powell said rate cuts could be fast, slow, or paused depending on the situation. Job and inflation risks are balanced. He didn't see signs of an increased recession risk in the economy and didn't declare victory against inflation.

2. Wu Mingjin, an analyst at Zhong Hui Futures, believes that rate cuts plus geopolitical events are the core logic behind the bullish outlook on gold since the beginning of the year. A 50 basis point rate cut opens up space for a further slow bull run in precious metals. Going forward, the main strategy for international spot gold and Shanghai gold will be to allocate low positions when prices dip. In the short term, we will focus on opportunities for "picking up passengers in reverse" above 7200-7250 for Shanghai silver 2412. (Zhong Hui Futures)