On November 12, Glonhui reported that the World Gold Council stated in its latest report that the results of the usa elections have dealt some blows to the impressive rise in gold prices since the beginning of the year. The reasons include the continued strengthening of ​bonds yields and the dollar, risk appetite in the stock market, a boost in cryptos, and the easing of geopolitical tensions. These factors may indicate that gold could experience a welcome pause in its upward trend, or even a healthy short-term correction. Despite these adverse factors, we believe that gold still has fundamental support. If gold prices do correct, we do not expect it to develop into a collapse. From our perspective, the negative reaction of gold to the results of the usa elections, as well as the continuing rise in ​bonds yields and the dollar, is merely a short-term phenomenon. Other driving factors, including reduced sanction risks and a renewed bull market in the stock market and cryptos, overshadow more fundamental underlying concerns.