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On the eve of the release of US CPI data, the price of gold futures rose.
On November 13th, Jinshi Data News, as market attention shifted to US economic data, gold futures rose slightly, pumping 0.4% to $2617.00 per ounce. After Trump won the US election, the price of gold plummeted. SP Angel analysts said in a report that this triggered profit-taking, a strong US dollar, and rising US Treasury yields, which suppressed gold demand. At the same time, speculative funds were also withdrawing from gold, ETF holdings declined, and net long positions were reduced. The focus is now on the upcoming US CPI data. SP Angel said that overheating data could increase pressure on the US bond market, pushing up the US dollar, which is a negative factor for gold. As the inflation indicator preferred by the Federal Reserve, the heating up of inflation data may also prompt officials to reconsider the extent of interest rate cuts, further reducing the attractiveness of zero-yielding gold.