博时基金王祥：金价刷新历史记录，美元信用收缩利好黄金

Market Overview - The gold market has reached a new historical price record, surpassing $4500, driven by year-end calendar effects and overall market sentiment [1][11] - Precious metals like silver and platinum have also seen continuous price increases, attracting trend traders and boosting trading sentiment for gold [1][11] - COMEX gold options' actual volatility remains low compared to silver [1][11] Economic Indicators - The U.S. GDP for Q3 showed an annualized quarter-on-quarter growth of 4.3%, significantly exceeding the market expectation of 3.3%, marking the fastest growth in two years [12] - Consumer spending was a strong driver of this growth, accelerating to a 3.5% increase for the quarter [12] - The core PCE price index rose by 2.9% in Q3, and both core capital goods orders and shipments in October showed an upward trend [12] Federal Reserve Insights - President Trump is expected to announce the next Federal Reserve Chair in the first week of January, with Powell's term ending in May [13] - Trump expressed a preference for the new chair to lower interest rates when the economy and markets are performing well, rather than preemptively due to inflation concerns [13]