【黄金期货收评】宏观宽松政策发力贵金属市场走强 沪金涨0.01%

Core Viewpoint - The gold futures market is experiencing a strong upward trend, supported by macroeconomic factors and a weak dollar, despite short-term fluctuations due to profit-taking [2]. Group 1: Market Data - On December 2, the closing price for Shanghai gold futures was 958.42 yuan per gram, with a slight increase of 0.01% [1]. - The trading volume for the day was 313,720 contracts, while the open interest stood at 202,038 contracts [1]. - The spot price of gold in Shanghai was quoted at 956.30 yuan per gram, reflecting a discount of 2.12 yuan per gram compared to the futures price [1]. Group 2: Economic Indicators - The ISM Manufacturing PMI for the U.S. decreased by 0.5 points to 48.2 in November, marking the largest contraction in four months and remaining below the neutral level of 50 for nine consecutive months [1]. - The new orders index fell to its fastest contraction rate since July, and the backlog of orders saw the largest decline in seven months [1]. Group 3: Institutional Insights - The macroeconomic environment shows a clear divergence in U.S. economic momentum, with the overall PMI rising to a four-month high due to the services sector, while manufacturing faces pressures from weak new orders and record inventory backlogs [2]. - Federal Reserve officials are signaling a dovish stance, with support for a potential rate cut in December to address risks in the labor market, alongside a moderate decline in core PPI and manageable inflation pressures [2]. - The COMEX gold and silver inventories have significantly decreased, and holdings in SPDR Gold ETF and SLV Silver ETF have increased, indicating strong market sentiment and continued capital inflow [2].