#美国消费者物价指数发布在即 $XAU $XAG Strong US data pushes precious metals into a tug-of-war between bulls and bears

Last night's economic data release instantly gave the market direction. Canada's November wholesale sales month-over-month fell to -1.8%, well below the expected 0.1%, which was a straw for gold and silver. But looking at the US data—wow, all hard currencies.

Initial jobless claims came in at 198,000, decisively breaking the 215,000 expectation. The US labor market remains so hot. Looking at the manufacturing index, the New York Fed jumped to 7.7, and the Philadelphia Fed to 12.6, both previously negative. This turnaround is quite significant. The US manufacturing outlook for January is rising rapidly. The import price index also didn't stay idle, with a month-over-month increase of 0.4%, surpassing the -0.1% expectation. Inflation, the old adversary, hasn't truly loosened its grip.

So the situation is like this: the strong US economic data is causing the market to reassess the Fed's rate cut pace, likely delaying it. The dollar is strengthening as a result, and gold and silver prices are temporarily under pressure. But don't be too pessimistic; the weak data from Canada, combined with the safe-haven attributes of precious metals, prevented prices from falling sharply. Currently, it's a tug-of-war between bulls and bears.

The key is whether gold and silver can hold onto important support levels. If the US economy continues to stay this strong, the pressure on precious metals may increase further. We'll just have to wait and see.