分析人士：贵金属基本面仍偏强

Core Viewpoint - The recent decline in precious metal prices is attributed to a technical correction following a strong prior rally, compounded by multiple macroeconomic and geopolitical negative factors, particularly during the low liquidity period of the Christmas holidays in Europe and the U.S. [1] Group 1: Price Movements - As of December 30, domestic precious metal futures prices collectively fell, with the main gold contract down 3.11% and the main silver contract down 3.96%, while platinum and palladium futures hit their daily limit down [1] - The sharp decline in precious metal prices is seen as a correction of previous over-expectations regarding U.S. fiscal and monetary policies [2] - Platinum prices surged over 30% in the previous week, leading to significant profit-taking and increased volatility in the short term [2] Group 2: Market Influences - The expectation of a new Federal Reserve chair aligning with President Trump's fiscal policies is influencing market sentiment, with potential for accelerated interest rate cuts [4] - Global central banks are reducing U.S. Treasury holdings while increasing gold reserves, which directly supports higher precious metal prices [4] - The industrial demand for silver remains strong due to its support from the photovoltaic industry, while platinum and palladium face declining demand from the automotive sector [4] Group 3: Future Outlook - Despite the recent price corrections, the long-term outlook for precious metals remains positive, driven by expectations of continued Federal Reserve rate cuts [4] - The upcoming announcement of the new Federal Reserve chair and the pace of interest rate cuts will be critical factors to monitor [4] - The introduction of new regulations in India regarding silver collateral may impact international silver supply dynamics in the first quarter of the following year [5]