Fed's Stance and Gold's Impact

The Fed's latest stance makes it quite clear that they continue to emphasize inflation remaining above target and may need to keep interest rates high for a while longer. This is reflected in the market starting to further reduce expectations for rate cuts.

For commodities like gold ($XAUUSD), which are typically sensitive to interest rates and the dollar, it's now quite interesting to see how it can hold up in an environment where bond yields remain high. Personally, I'm still watching key support levels. If it breaks below, I may need to re-evaluate the overall picture. $KWEB also doesn't look good today, having fallen below 28.07.