NCE平台:经济增长动能放缓 深度解析贵金属异动

Core Viewpoint - The recent volatility in global financial markets reflects a complex economic environment in the U.S., characterized by a paradox of job growth amidst overall economic cooling [1][4]. Employment Data - November non-farm payrolls increased by 64,000, surpassing the market expectation of 51,000, yet this does not mask the underlying economic slowdown [1]. - The unemployment rate unexpectedly rose to 4.6% in November, up from 4.5% in September [1][4]. - Revisions to previous employment data indicate a loss of growth momentum, with August's job figures revised down to a loss of 26,000 and September's growth adjusted from 119,000 to 108,000 [4]. - Average hourly earnings in November saw a minimal increase of 0.1%, raising concerns about consumer purchasing power [4]. Manufacturing and Services Sector - Economic momentum is visibly weakening in both manufacturing and services, with the December composite PMI preliminary value dropping to 53, below the expected 53.2 [2][4]. - The services PMI fell from 54.1 to 52.9, while the manufacturing PMI also declined, indicating a slowdown in expansion despite remaining above the 50 mark [2][4]. Precious Metals Market - Platinum has shown exceptional performance, breaking out of a long-term consolidation range with a weekly increase of 3.22%, reaching a high of $1,874.30, driven by safe-haven demand and optimistic expectations for industrial demand, particularly in the automotive and chemical sectors [2][4]. - Silver experienced a slight pullback to $63.795 but remains within a high range since August, demonstrating strong resilience [2][4]. Gold Market - Gold prices are stabilizing around $4,331.20, reflecting investor caution amid strong employment data and economic slowdown concerns [5]. - The rise in unemployment and weak wage growth provide support for gold prices, while the unexpected job growth limits upward potential [5]. - The strength of platinum and resilience of silver may indicate that structural demand or supply bottlenecks in the metals market are becoming key price drivers, warranting close monitoring of upcoming industrial data [5].