急涨急跌，黄金站上4230美元/盎司

Core Viewpoint - International precious metal prices experienced significant volatility on December 9, with COMEX gold futures dropping sharply below the $4200 mark before recovering slightly to around $4232 per ounce, reflecting a gain of over 0.3% [1] Price Movements - COMEX gold futures reported at $4230.8, up by $13.1 or 0.31% from the previous close [2] - COMEX silver prices fluctuated, initially dropping below $59 per ounce but later rebounding to approximately $58.96, reflecting an increase of $0.555 or 0.95% [2] - The highest price for COMEX gold during the day reached $4242.3, while the lowest was $4197.8, indicating a trading range of $44.5 [3] Economic Indicators - The Bank of Japan's Governor, Kazuo Ueda, indicated a potential interest rate hike due to low real interest rates, which could impact the economic outlook [3] - Analysts from Huatai Securities noted that an early rate hike by the Bank of Japan could help avoid the risk of inflation "de-anchoring," but it may also lead to increased Japanese government bond yields and pressure on gold prices due to potential asset sell-offs [4] Historical Context - The previous rate hike by the Bank of Japan on July 31, 2022, led to a rapid appreciation of the yen and significant market volatility, including a 12.4% drop in the Nikkei 225 index and a nearly 4% fluctuation in New York gold futures prices [5] Market Outlook - Despite potential rate hikes, institutions believe the impact on the gold bull market may be limited, as the long-term macroeconomic drivers for gold prices remain intact [6] - Analysts from Ping An Securities maintain a bullish outlook on gold prices, citing ongoing concerns about the weakening of the US dollar's credit and the potential for continued central bank gold purchases [7] - As of the end of November, China's gold reserves reached 74.12 million ounces, marking a continuous increase for 13 months, which supports the underlying demand for gold [7]