Institution: If the backlog data in the U.S. points to an economic slowdown, gold is expected to rebound next week.

According to Jinse Finance, Stephen Innes, managing partner of SPI Asset Management, stated that after the U.S. government reopens, a batch of important backlog data will be released, including employment and inflation indicators, with the market expecting these data to soften. Weaker U.S. data may lower U.S. Treasury yields, reigniting market expectations for interest rate cuts in early 2026, and providing rebound space for gold, which has been previously squeezed by rising real yields. The recent pullback in gold prices seems more like a position adjustment rather than a trend reversal. The outlook for gold remains positive, and investors will closely monitor U.S. real yields, a weakening dollar, and the soon-to-be-released data. If the data points to a cooling U.S. economy, gold is expected to experience a rebound next week.