After silver hit a new historical high: The dual impact of this week's data on gold trends

Against the backdrop of silver refreshing its historical high, the short-term linkage trend of gold and the long-term risk of a pullback highly depend on this week's core economic data and changes in market expectations after central bank events.

In the short term, if the inflation data from the US, Europe, and Japan exceeds expectations, and US non-farm employment weakens, or major central banks release dovish signals, it will strengthen gold's anti-inflation properties and rate cut trading logic. Coupled with the enthusiasm in the precious metals sector opened by silver, gold is expected to rise in tandem.

In the long term, if US economic data is hawkish, central banks send tightening signals, or economic indicators in the Eurozone weaken, gold will face valuation pressure, liquidity tightening, and the vulnerability of silver's industrial demand may inversely drag down gold, triggering pullback risks.