Last week had a major CPI: The market is waiting for the Fed, and officials will continue to appear.

Starting in 2026, financial assets are showing positive signals. Last week, precious metals recorded impressive gains: spot gold increased by 4% (more than $177), and spot silver rose nearly 10% (more than $7). These fluctuations reflect a combination of geopolitical concerns and new expectations regarding monetary policy from the US Federal Reserve.

US CPI release will be the focus of this week

In the upcoming week, US economic data will become the main focus. The US will release the December CPI index on Tuesday next week which will be a key milestone, likely causing significant market volatility and directly influencing precious metal price trends. Additionally, retail sales, Producer Price Index (PPI), and current account balance will also be announced, providing a comprehensive picture of the US economic situation.

Fed officials will speak continuously throughout the week

Alongside data releases, Federal Reserve board members and branch presidents will frequently appear to share their views. From Tuesday to Friday, there will be a series of speeches from officials such as Atlanta Fed President Bostic, Richmond Fed President Barkin, New York Fed President Williams, and St. Louis Fed President Musalem. Fed Governor Mester will also speak in Athens.

Specific schedule to follow

Tuesday (01:30-07:00 UTC+8): Continuous speeches from various Fed presidents, including Bostic, Barkin, and Williams.

Wednesday (05:00-23:00 UTC+8): Continued speeches from Barkin, release of November retail sales data, November PPI year/month, Harker’s outlook on the economy, and Mester’s speech in Athens.

Thursday (01:00-21:35 UTC+8): Fed releases the Beige Book on economic conditions, along with speeches from Kashkari, Bostic, Williams, and data on unemployment, manufacturing index, and import prices.

Friday: Barkin continues to speak on Virginia economic outlook.

With a high density of events and data releases, the market will face many influencing factors, especially the US CPI index release, which will be the decisive factor for this week’s trend.