Core Insights - The total holdings of the world's largest gold ETF, SPDR Gold Trust, reached 1,040.86 tons as of November 24, marking an increase of 0.29 tons from the previous trading day, driven by rising expectations of a Federal Reserve interest rate cut [5]. Group 1: Market Dynamics - Gold prices surged significantly, reaching a peak of $4,139.82 per ounce, the highest level since November 14, closing at $4,134.54, an increase of $68.77 or 1.69% [5]. - The market is currently pricing in a 76% probability of a Federal Reserve rate cut in December, a substantial rise from 42% a week prior, influenced by dovish comments from Fed officials [5]. Group 2: Economic Indicators - Despite a slight increase in the US dollar index, gold maintained strong performance due to a decline in US Treasury yields, with the 10-year yield dropping by 2.5 basis points to 4.042% [6]. - Upcoming economic data releases, including ADP employment figures and producer price index, are expected to provide market direction ahead of the Fed's silent period [6]. Group 3: Technical Analysis - Technical indicators show a moderately bullish signal for gold, with the relative strength index suggesting potential further price increases [6]. - Key resistance levels for gold are identified at $4,150 and the cycle high of $4,245 reached on November 13, while critical support is at the upward trend line around $4,030 [7].
黄金ETF持仓量报告解读（2025-11-25）金价急跌后上涨 突破4100
Sou Hu Cai Jing·2025-11-25 07:27