黄金早参|议息会议表明分歧加剧，12月降息预期降至30%，金价冲高回落

Core Viewpoint - Gold prices experienced a strong surge on November 19, reaching a peak of $4,134 before retreating, influenced by increasing divisions regarding the Federal Reserve's interest rate decisions [1] Group 1: Gold Market Performance - As of the close, COMEX gold futures rose by 0.29% to $4,078.30 per ounce [1] - The China Gold ETF (518850) increased by 1.78%, while the Gold Stock ETF (159562) saw a rise of 4.13% [1] Group 2: Federal Reserve Insights - The minutes from the Federal Reserve's October policy meeting revealed significant divisions among decision-makers regarding the recent interest rate cut [1] - Despite concerns that lowering rates could hinder efforts to control inflation, which has remained above the 2% target for the past four and a half years, the Fed ultimately decided to cut rates [1] - Following the meeting, there has been a notable shift among Fed officials expressing worries about inflation and opposing further rate cuts in December, with current market expectations for a rate cut at only about 30% [1] Group 3: Market Sentiment and Future Outlook - Analysts from CITIC Futures noted that there may be cautious sentiment in the market ahead of important earnings reports from U.S. stocks [1] - The upcoming release of the Federal Reserve's October meeting minutes and non-farm payroll data is anticipated to influence market expectations, particularly in light of a cooling labor market [1] - The long-term bullish trend for precious metals is expected to be maintained [1]