According to CoinMeta, the Christopher Wong from OCBC indicates that the Jackson Hole Conference will become the next key test for gold. Market attention is focused on the speech by Federal Reserve Chairman Jerome Powell, but since such speeches usually do not include a Q&A session, there is limited room for the market to expect clearer signals regarding policy in September. However, traders may still carefully interpret the speech in search of clues about the overall policy framework of the Federal Reserve and how Powell defines this framework, which may involve considerations of inflation persistence and forward guidance. These factors could still have an impact on the US dollar, interest rates, market sentiment, and precious metals. OCBC remains bullish on gold, as concerns about the US fiscal credibility support demand. However, the gold price has failed to hold at recent highs, and with stronger inflation data leading to rising yields and a rebound in the US dollar, it is not advisable to chase gains in the short term.