$XAU
US Treasury Secretary Besent stated that the current state of the gold market closely resembles traditional speculative selling, noting that the cyclical factors in the market are still in an expansion phase rather than a contraction.
He added that the Federal Reserve is not expected to take any immediate action regarding its balance sheet, reflecting a continued wait-and-see approach in monetary policy.
Besent also expressed complete confidence in Walsh's independence and his ability to manage the related files without interference.
📌 These statements reflect an official view that the current movements in gold may be short-term speculative behavior rather than a structural change in direction, which is of interest to both gold and crypto investors, especially in light of the increasing relationship between global liquidity and movements in alternative assets.