宏源期货：全球债务膨胀预期 支撑贵金属价格

Group 1: Gold Futures Performance - The main gold futures in Shanghai reported a price of 961.04 CNY per gram, with an increase of 0.36% [1] - The opening price for the day was 954.50 CNY per gram, with a highest price of 962.30 CNY and a lowest price of 952.62 CNY [1] Group 2: Macroeconomic News - In November, the U.S. non-farm employment positions decreased by 9,000, with October's figure revised down to a reduction of 15,500 [1] - The Challenger report indicated that U.S. companies laid off 71,000 employees in November, with a year-on-year growth rate slowing to 24% [1] - The Bank of Japan is expected to raise interest rates in December, with the government likely to tolerate this move [1] - The European Union aims to break down national barriers in financial services, targeting 33 trillion euros in household savings to create a unified capital market [1] Group 3: Institutional Perspectives - The U.S. economic and employment data presents mixed signals, with some Federal Reserve officials supporting a rate cut in December, leading to an over 80% probability of a rate cut [1] - Germany, the U.S., Japan, and the U.K. have introduced fiscal stimulus policies, contributing to expectations of rising global debt and fiscal deficits [1] - Central banks worldwide continue to purchase gold, with the one-month borrowing rate for silver in London exceeding 5.7%, while geopolitical risks in regions like Ukraine, the Middle East, and Venezuela may support precious metal prices in the medium to long term [1]