1225黄金点评：节前获利盘涌出，警惕短期金价回调风险

Core Viewpoint - COMEX gold experienced fluctuations, closing at $4505.4 per ounce with a slight decline of 0.01%, while domestic SHFE gold also saw a drop of 0.23% to 1010.30 yuan per gram, indicating a volatile market influenced by various economic factors [1]. Group 1: Market Influences - The rise in gold prices was initially driven by expectations of further interest rate cuts by the Federal Reserve and a weakening dollar, with spot gold briefly surpassing the $4500 mark during overnight trading [1]. - The VIX index and bond market volatility decreased as North American trading commenced, suggesting a shift in market sentiment [1]. Group 2: Economic Indicators - The number of initial jobless claims in the U.S. fell to 214,000, lower than the expected and previous figures of 224,000, indicating a resilient labor market [1]. - U.S. Treasury Secretary Yellen advocated for a reassessment of the Fed's inflation target after inflation rates stabilize at 2%, suggesting a potential shift in monetary policy [1]. Group 3: Market Sentiment - The dollar index ended its two-day decline as profit-taking emerged, leading to a pullback in gold prices, which reflects a possible overbought condition in the precious metals market [1]. - The divergence between bullish and bearish sentiments in the market has widened, prompting a cautious approach for investors [1].