CICC Wealth Futures: Gold position too high to serve as a safe haven

2026-04-10 08:13:06

We have recently repeatedly emphasized that gold cannot serve as a safe haven, primarily because its position is too high. Yesterday, the Federal Reserve kept the federal funds rate target range unchanged at 3.5%-3.75%. Powell explicitly stated that he would not consider cutting rates until further improvement in inflation is observed, which confirms the official expectation of a rate cut. We believe that gold will still experience significant fluctuations in the short term, and recommend observing the market. (CICC Wealth Futures)

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