大有期货：市场情绪推升遇阻力 金银高位回落风险增

Group 1: Macro News - The President of the Atlanta Federal Reserve, Bostic, indicated that the U.S. labor market is cooling but does not expect a significant slowdown. He warned that failing to achieve inflation targets for years could damage the credibility of the Federal Reserve [2] - The U.S. Bureau of Labor Statistics (BLS) reported that non-farm payrolls increased by 64,000 in November, exceeding expectations of a 45,000 increase, while October saw a decrease of 105,000. The unemployment rate rose from 4.4% in September to 4.6% in November, higher than the expected 4.5% [2] Group 2: Institutional Views - Based on the latest U.S. employment data and Federal Reserve policy signals, the gold and silver markets may experience short-term fluctuations with potential upward movements but lack follow-through. The unexpected rise in the unemployment rate to 4.6% has raised concerns about economic cooling, providing technical rebound momentum for gold and silver prices [3] - The significant increase in non-farm payrolls indicates that the labor market remains robust. The emphasis from the Atlanta Fed President on the risks of premature rate cuts reinforces expectations for a restrictive monetary policy, which is likely to limit the upside potential for gold and silver prices [3] - Overall, while market sentiment may see temporary boosts from data fluctuations, the clear commitment of the Federal Reserve to control inflation suggests that gold and silver prices will face significant pressure at relatively high levels, with risks of pullbacks accumulating after any upward movements [3]