The Federal Reserve's "three top officials" being dovish failed to push up gold prices, with gold prices waiting for retail data to break out of the consolidation pattern.

On Monday, during the early trading session in Asia, the price of gold remained stable. The market is assessing the possibility of the Federal Reserve cutting interest rates again before the end of the year. As of the time of writing, the spot price of gold fluctuated around $4050 per ounce, after falling by 0.3% on Friday. The US dollar spot index rose by 0.1%. The prices of silver, platinum, and palladium also saw slight increases. Last Friday, New York Fed President Williams stated that given the gradual slowdown in the labor market, there is still room to lower borrowing costs in the short term, although other officials are more cautious. After Williams made this statement, the price of gold briefly rose to $4100 before falling back to around $4050. The US government shutdown has delayed the release of economic data, which is usually a key factor for the market to assess the possibility of a rate cut. Data on US retail sales and producer prices for September, scheduled to be released on Tuesday, as well as jobless claims data on Wednesday, will provide much-needed updates on the economic situation. Futures traders expect a slightly higher than 69% chance of a 25 basis point rate cut by the Federal Reserve next month. Since reaching a record high of $4380 per ounce on October 20, the gold market has been in a consolidation phase. Gold prices have still increased by about 55% so far this year, due to heightened trade and geopolitical uncertainties, as well as concerns about the deteriorating fiscal conditions of many governments.