机构看金市：12月2日

Core Viewpoints - The precious metals market is supported by weak economic data and geopolitical risks, with gold and silver showing strong upward trends [1][2][3][4][5] Group 1: Market Analysis - Citic Futures indicates that gold has a high safety margin for long positions, while silver shows greater elasticity under squeezed trading conditions [1] - Guoxin Futures highlights that the recent ISM manufacturing PMI data from the U.S. has raised concerns about economic slowdown and monetary policy easing, while geopolitical uncertainties have increased risk aversion [2] - Guoyuan Futures notes a divergence in U.S. economic momentum, with manufacturing facing pressures from weak new orders and record inventory backlogs, while the Fed's dovish signals support a long-term bullish outlook for precious metals [3] Group 2: Price Trends and Predictions - Zaye Capital Markets reports that gold prices have stabilized around $4,238 per ounce, driven by macroeconomic factors and geopolitical developments, with expectations of continued upward momentum [4] - Axis Securities emphasizes that factors such as central bank gold purchases, escalating global risks, and hints of U.S. rate cuts could sustain gold's upward trend into 2026, with potential for record highs if current trends continue [5]