小非农数据大幅不及预期，美联储降息进一步升温，市场静待议息会议结果落地

Core Viewpoint - Gold prices continued to fluctuate, influenced by weak non-farm payroll data, with COMEX gold futures rising by 0.33% to $4234.8 per ounce at the close [1] Economic Data Summary - The U.S. November "small non-farm" payrolls saw the largest decline in two and a half years, with ADP employment data showing a reduction of 32,000 private sector jobs, significantly below the market expectation of an increase of 10,000 [1] - The probability of a 25 basis point rate cut by the Federal Reserve in December is approaching 90%, according to CME's FedWatch tool [1] Market Reaction Summary - The weak private sector employment data has further fueled expectations for a rate cut by the Federal Reserve in December, although the prior probability was already above 80%, indicating a high likelihood [1] - Despite the weak employment data boosting rate cut expectations, there was no significant volatility in capital markets; U.S. stocks continued to rebound, the dollar index fell slightly, and U.S. Treasury yields decreased modestly [1] - Gold and silver prices have been rising since last week, suggesting anticipatory trading ahead of the Federal Reserve's upcoming meeting, with prices experiencing fluctuations as the market awaits the meeting's outcome [1]