Core Viewpoint - Gold prices experienced a slight decline during the Asian trading session, trading below the $4,350 mark after reaching a near seven-week high, primarily due to profit-taking and a short-term rebound in the US dollar [1] Group 1: Market Dynamics - Recent US employment data has led to adjustments in market expectations regarding future policy environments, with some traders anticipating a more accommodative policy path if economic data continues to signal a slowdown [3] - The changing international landscape, particularly Venezuela's naval escort measures under external pressure, has increased regional uncertainty, which historically boosts interest in safe-haven assets like gold [3] - The market is focused on the upcoming US Consumer Price Index (CPI) data, with expectations for November's overall CPI year-on-year at 3.1% and core CPI at 3.0% [3] Group 2: Federal Reserve Perspectives - There are differing views within the Federal Reserve regarding future policy adjustments, with some members advocating for a return to a more neutral stance under appropriate conditions, while others express caution until inflation shows significant decline [4] - Following the release of employment data, market expectations for a policy adjustment next month increased from 22% to 31% [4] Group 3: Technical Analysis of Gold - The mid-term structure of gold remains relatively positive, with prices above the 100-day exponential moving average and the Bollinger Bands expanding [4] - If gold prices form a strong bullish candlestick and break above the upper Bollinger Band at $4,352, there is potential to test the $4,381 high and approach the psychological level of $4,400 [4] - Conversely, if prices weaken and fall below the December 17 low of $4,300, further declines may occur, with attention on the December 16 low of $4,271 and the 100-day exponential moving average around $4,233 [4]