现货黄金：回升至3980 - 3990美元，美债及降息预期影响大

Group 1 - The core viewpoint of the article indicates that after a sell-off, spot gold prices are gradually recovering to the range of $3980 - $3990, but the current momentum struggles to challenge the psychological barrier of $4000 [1] - The ten-year U.S. Treasury yield rose to 4.16%, marking a one-month high, and if it climbs to 4.21%, it may boost the dollar and pressure gold market sentiment [1] - Market adjustments regarding interest rate cut expectations will have a significant impact on gold in the coming weeks, with traders pricing in a 61% probability of a 25 basis point cut in December [1] Group 2 - The upcoming traditional seasonal bullish cycle for precious metals is expected from December to January [1]