The market expects this CPI annual rate to be 3.1% and core CPI annual rate to be 3.0%: If the published value is below 3%, the slowdown in inflation will strengthen the Fed's expectation of a rate cut in January, reducing the opportunity cost of holding gold, coupled with economic weakness support, gold prices are likely to break through new highs; if it meets or is flat with expectations, the bets on rate cuts may cool down, and shorts may take the opportunity to exert pressure; if it exceeds 3.1%, the rise in inflation may prompt the Fed to restart rate hikes, putting pressure on gold prices.

Initial jobless claims data reflects the employment situation in the U.S.: if the data is above expectations, it indicates weak employment, raising rate cut expectations which is bearish for the dollar and bullish for gold; if below expectations, it indicates stable employment, reducing the urgency for rate cuts, putting short-term pressure on gold.

Currently, gold is facing profit-taking from bulls and a slight pullback in the dollar, but the expectations of rate cuts and geopolitical risks limit the decline. The release of these two key data points is expected to break the oscillation pattern, and personally, I am firmly bullish on a breakout upwards. #黄金