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

SPI Asset Management Managing Partner Stephen Innes stated that after the U.S. government reopens, a batch of important data that has been delayed will be released, including employment and inflation indicators, and the market expects this data to show weakness.
Weaker U.S. data may lower U.S. Treasury yields, reigniting the market's expectations for interest rate cuts in early 2026, and providing a rebound space for gold, which has previously been pressured by rising real yields.
Recently, the pullback in gold prices seems more like a position adjustment rather than a trend change. The outlook for gold remains positive, and investors will closely monitor U.S. real yields, a weakening dollar, and upcoming data. If the data points to a cooling U.S. economy, gold is expected to see a rebound next week.