Societe Generale Securities released a research report stating that under a strong dollar and high interest rates, gold prices may still fluctuate mainly in the short term. The current demand for gold investment is still being suppressed by real interest rates and the US dollar. The continuous reduction in SPDR gold ETF holdings and the net outflow of capital from Shanghai Gold for two consecutive days also reflect that investment capital is more cautious. Geographically, Iran's Supreme National Security Council Secretary Rezai said that no enriched uranium will be shipped out of the country. The differences between the US and Iran on the nuclear issue are still huge. Brent crude oil futures rebounded 1.4% on the 11th, and the effects of falling oil prices on the mitigation of inflation may be repeated. However, the pricing of the Federal Reserve's interest rate hike in December was quite adequate. There may be relatively limited room for the price of gold to continue to fall until a new signal of rising interest rate hikes appeared.

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