According to Jinshi data reports, gold futures fell 1% on Monday, to $2665 per ounce. SP Angel analysts pointed out that profit-taking triggered by the U.S. election has put pressure on gold prices, indicating that traders have unclear expectations about the results.
Analysts stated that the strengthening of the dollar after Trump's victory has also put pressure on gold prices. The CPI data released on Wednesday may become the next factor driving gold prices up, as it will provide clues for the Federal Reserve's next step in easing monetary policy.
SP Angel believes that further interest rate cuts may reignite inflation and boost gold prices.