金价银价：创新高受降息押注等多因素驱动

Core Viewpoint - Recent increases in gold and silver prices are attributed to market expectations of interest rate cuts by the Federal Reserve in 2026, with a general consensus predicting two rate cuts next year [1] Group 1: Market Dynamics - The rise in gold and silver prices is driven by a shift in investor sentiment following the release of U.S. economic data [1] - Lower interest rates are expected to compress yields on cash-like assets, enhancing the appeal of physical assets like gold and silver [1] Group 2: Investment Behavior - Developed market investors are entering the precious metals market due to concerns over the dilution of value in sovereign bonds and their respective currencies [1] - Central banks in emerging market countries are purchasing gold to diversify foreign exchange reserves, reduce reliance on the U.S. dollar, and enhance asset security [1] - Year-end asset reallocation by investors is also a significant factor contributing to the recent price increases [1]