黄金早参｜地缘动荡频发，避险需求升温，金价重新站上4500美元

Core Viewpoint - The recent geopolitical tensions and dovish comments from the Federal Reserve have positively influenced the gold market, leading to a significant increase in gold prices and related ETFs [1] Market Performance - COMEX gold futures rose by 4.36% to close at $4,518.4 per ounce during the week of January 5 to January 9 [1] - The China Gold ETF (518850) increased by 3.01% over the same period [1] - The gold stock ETF (159562) saw a weekly rise of 6.77% [1] - The non-ferrous metals ETF (516650) experienced an 8.93% increase [1] Economic Data - The U.S. labor market showed mixed signals, with weaker non-farm payroll and ADP employment data, but an improvement in the unemployment rate [1] - The overall economic data has weakened the conditions for interest rate cuts, while manufacturing PMI and new housing starts fell short of expectations, raising concerns about the economic fundamentals [1] Geopolitical Factors - Ongoing geopolitical tensions, particularly related to U.S. military actions in Venezuela and potential strikes against Iran, have heightened market risk aversion [1] - The increase in geopolitical instability has led investors to diversify their asset reserves, boosting demand for gold as a safe-haven asset [1]