黄金早参丨美联储官员鸽派言论持续，金价突破4480美元，再创历史新高

Core Viewpoint - Gold prices surged to a historic high due to a combination of risk aversion and dovish signals from Federal Reserve officials, with COMEX gold futures rising by 2.13% to $4480.60 per ounce [1] Group 1: Market Reactions - As of the close, the China Gold ETF (518850) increased by 2.08%, while the Gold Stock ETF (159562) rose by 3.78% [1] Group 2: Federal Reserve Signals - Federal Reserve Governor Milan indicated that failing to continue interest rate cuts next year could risk triggering an economic recession [1] - He also noted that while a downturn is not expected in the short term, rising unemployment rates should prompt the Fed to maintain a dovish stance, with recent employment data suggesting that unemployment may exceed previous market expectations [1] Group 3: Analyst Insights - Gu Fongda, Chief Analyst at Guosen Futures, stated that the current gold price is primarily supported by expectations of Fed policy and geopolitical uncertainties [1] - There is ongoing divergence within the Fed regarding policy direction, reinforcing market expectations for a prolonged easing cycle [1] - The potential escalation of the Middle East situation and evolving geopolitical dynamics in Europe continue to inject risk premiums into the market, solidifying the investment value of precious metals [1]