黄金早参|获利了结引发金价跳水，短期波动加大，黄金行情尚未结束

Group 1 - Gold prices continued to fluctuate on December 2, with COMEX gold futures dropping to $4,194 before a slight recovery, resulting in a daily fluctuation of over $70. The closing price was $4,238.70 per ounce, reflecting a decline of 0.84% [1] - Recent data indicates a gradual cooling of the U.S. economy, coupled with dovish signals from Fed officials, which has increased market expectations for a 25 basis point rate cut at the upcoming Fed meeting, with traders pricing in a 89% probability of a rate cut [1] - Analysts noted that the midday drop in gold prices was due to profit-taking by investors following a recent strong rally [1] Group 2 - According to Chaos Tiancheng Futures analysis, the outlook for gold prices in 2025 is based on the logic of U.S. dollar credit contraction, alongside the onset of a rate-cutting cycle, which is expected to weaken the dollar index and U.S. Treasury yields, creating a smoother upward trend [1] - The overall trading direction for next year is expected to be significantly influenced by macroeconomic changes, suggesting that while the current narrative remains intact, the market has not yet reached the end of a bull market and still holds allocation value, though caution is advised regarding potential shifts in high-level macro narratives [1]