Sou Hu Cai Jing·2025-11-11 08:09Core Viewpoint - The temporary end of the U.S. government shutdown has boosted market risk appetite, leading to a significant increase in gold prices, with COMEX and London spot gold both surpassing $4100 per ounce, marking the largest increase in November [2] Market Reaction - On November 10, gold prices surged, with spot gold reaching above $4140 on November 11, driven by expectations of potential interest rate cuts from the Federal Reserve [2] - If upcoming economic data or Fed officials' statements reinforce the expectation of a December rate cut, gold prices may continue to rise [2] Technical Analysis - Gold prices need to hold above $4130 to test higher levels of $4150-$4200 [2] - There is a risk of technical pullback due to accumulated profit positions after consecutive price increases, with key support levels identified in the $4080-$4100 range [2] Investment Strategies - For aggressive investors: Consider light long positions if gold prices pull back to the $4100-$4110 range, with a stop-loss set below $4080 and a target near $4150, potentially extending to $4180-$4200 [2] - For conservative investors: It is advisable to wait for clearer market direction, with a potential follow-up if gold effectively breaks the $4150 resistance or caution if it falls below the $4080 support [3] News Impact - The reopening of the U.S. government will lead to the release of previously delayed economic data, such as the non-farm payroll report, which are crucial for assessing the U.S. economy and Fed policy direction [4] - Close attention should be paid to statements from Fed officials, particularly Chairman Powell, as any dovish or hawkish signals regarding interest rates will directly impact the gold market [4] - Market sentiment, including movements in U.S. stock markets and the dollar index, will also influence gold prices, with rising risk appetite potentially suppressing gold and market panic boosting it [4]