Core Viewpoint - The recent fluctuations in gold prices are influenced by better-than-expected U.S. retail sales data and market expectations regarding potential interest rate cuts by the Federal Reserve, which may create both short-term selling opportunities and long-term bullish trends for gold [3][4]. Group 1: Market Data - On September 17, gold prices briefly reached $3700 per ounce before retreating to around $3680, closing at $3689.83, reflecting a 0.30% increase from the previous day [1]. - U.S. retail sales for August increased by 0.6%, significantly surpassing economists' expectations of 0.2% [3]. Group 2: Federal Reserve Expectations - Market participants are largely pricing in a 25 basis point rate cut by the Federal Reserve, with some speculating on a potential 50 basis point cut due to pressure from President Trump [3]. - A cautious stance from the Federal Reserve could lead to a technical pullback in gold prices, but the overall trend remains bullish for the next year [3]. Group 3: Long-term Gold Outlook - The long-term bullish case for gold is supported by factors such as global monetary policy easing, weakening U.S. dollar credibility, persistent geopolitical risks, and institutional demand for gold from central banks [3].