According to CoinMeta, Yuxuan Tang, the head of interest rates and foreign exchange strategy for JPMorgan Chase's private banking division in Asia, stated that due to thin liquidity and limited room for interest rate increases, gold still faces downward risks in the short term, as there is a lack of technical support below $4,000 per ounce. It is expected that the Federal Reserve will raise interest rates in December and during the first quarter of 2027, driving the yield on 10-year U.S. Treasury bonds to a peak of 5.25% to 5.5%. This increase in yields will weaken interest in gold investment. Once the Federal Reserve ends its tightening policies, the attractiveness of gold as a tool to hedge against economic and policy risks is expected to drive a rebound in gold prices later next year.