Analysis: Gold is experiencing short-term oscillations, with insufficient upward momentum to drive a clear trend.

Odaily Planet Daily News: CITIC Futures analysis points out that on one hand, gold is weakened by the approaching expiration of the US-Iran temporary ceasefire agreement and the uncertain outlook for US-Iran negotiations, which dampens buying sentiment; on the other hand, it is suppressed by remarks at the Wosh hearing stressing the need to maintain the Federal Reserve’s independence and low inflation, as well as the background of an unexpected rebound in March retail data, with the market’s expectations for rate cuts further tightening.

First, the official website of the US Senate Committee on Banking shows that at the US Senate Committee on Banking hearing on April 21, Federal Reserve chair nominee Wosh stated that if he is appointed and takes charge of the Federal Reserve, he will make monetary policy decisions independently and will not be affected by any suggestions or pressure from Trump, and he emphasized that low inflation is the Fed’s protective shield.

Second, US March retail sales rose 1.7% month-on-month, exceeding expectations of 1.4% and the prior value of 0.7%; core retail sales increased 1.9% month-on-month, also exceeding expectations of 1.4% and the prior value of 0.7%. Supported by strong retail data, market expectations for Federal Reserve rate cuts further converge.

Third, the US-Iran temporary ceasefire agreement is set to expire on April 22, Eastern Time. Trump has publicly stated that if the US and Iran cannot reach an agreement before the ceasefire expires, extending the ceasefire is “extremely unlikely.” Iran has said it will refuse to take part in a second round of talks with the US; with the uncertain prospects for negotiations, gold buying sentiment remains cautious, and funds stand by waiting for the situation to become clear. (Jin10)