Core Viewpoint - The international gold market is currently experiencing a bullish trend, with potential for further gains despite short-term fluctuations. The market is supported by expectations of interest rate cuts by the Federal Reserve, a weakening dollar, and ongoing economic uncertainties [1][6][16]. Market Performance - On December 1, gold opened at $4221.37 per ounce, reached a low of $4205.40, and fluctuated between $4220 and $4260, ultimately closing at $4232.27, marking a daily increase of $10.9 or 0.26% [1][11]. - The daily trading range was $59.17, with a peak at $4264.57 during the early U.S. trading session [1][13]. Economic Indicators - The U.S. ISM Manufacturing PMI for November was reported at 48.2, below the expected 49, indicating continued contraction for the ninth consecutive month, which contributed to the upward movement in gold prices [3][13]. - Upcoming economic data, including the November ADP employment figures and the September core PCE price index, are anticipated to reinforce expectations for interest rate cuts, further supporting gold prices [5][15]. Technical Analysis - The gold market is currently facing resistance at the trendline and has shown signs of a potential pullback. Key support levels to watch are the 10-day and 60-day moving averages, which could present buying opportunities [1][8][18]. - A breakthrough above $4260 could lead to targets of $4380 or higher, while a failure to maintain above this level may result in further corrections [1][8][18]. Future Outlook - The overall sentiment remains bullish for gold, with expectations of a new bull market driven by low interest rates and economic uncertainties. Historical trends suggest that any pullbacks during a rate-cutting cycle could be seen as buying opportunities [6][16]. - The long-term target for gold is projected at $5000 per ounce, contingent on breaking through key resistance levels [6][16].
张尧浠:美降息预期持续发酵 金价多头前景乐观
Xin Lang Cai Jing·2025-12-02 08:57