Short-Term Focus: Inflation Data + Negotiation ProgressGOLD (US$/OZ)TVC:GOLDWillie_ColetteShort-Term Focus: Inflation Data + Negotiation Progress—Market Dynamics Intensify In the short term, market movements will be primarily driven by two key variables: First, U.S. economic data and Federal Reserve policy signals. The Consumer Price Index (CPI) and Personal Consumption Expenditures (PCE) Price Index—scheduled for release this week—will further clarify the inflation outlook and provide clues regarding the Fed's monetary policy trajectory; additionally, the ISM Services Purchasing Managers' Index (PMI), to be released late Monday during the U.S. trading session, is also expected to trigger short-term market volatility. Second, substantive progress in ceasefire negotiations between the U.S. and Iran. Should an agreement be reached, the U.S. dollar could weaken further, while gold is poised to extend its recent rebound. Conversely, if negotiations collapse and the conflict escalates, the dollar's safe-haven appeal would reassert itself, leaving gold to navigate a tug-of-war between safe-haven demand and the downward pressure exerted by high interest rates. Regardless of the negotiation's outcome, the current trend of elevated oil prices is unlikely to shift in the short term. Furthermore, the expectation that global central banks will "keep interest rates higher for longer" remains the primary headwind for gold's upside potential. Moving forward, market participants should pay close attention to marginal shifts in both inflation data and geopolitical developments.