According to gold market participants, with high inflation and strong labor market support, US interest rates may rise for a longer period of time than expected. At the London Gold and Silver Market Association Precious Metals Conference held in Barcelona, experts at the conference stated that they expect the Federal Reserve to further raise interest rates. Frederik von Ameln, portfolio manager at Publica, said, "Raising interest rates one or two more times is certain." Peter Zoellner, head of the Bank for International Settlements' banking department, also agreed, stating that there are currently many inflationary pressures in the United States, such as the costs associated with transitioning to renewable energy and a strong labor market. "I don't expect interest rates to be lowered soon," he said.