银河证券：预计黄金、白银等贵金属价格仍将上涨

Core Viewpoint - The report highlights a decrease in initial jobless claims in the U.S. to 198,000, the lowest level since November 2025, which is below market expectations, indicating a strong labor market [1] Economic Indicators - The U.S. Department of Labor reported that initial jobless claims fell to 198,000, marking a significant drop and the lowest level since November 2025 [1] - This decline in jobless claims, combined with hawkish comments from Federal Reserve officials, has reduced expectations for interest rate cuts by the Fed [1] Geopolitical Developments - President Trump announced tariffs on all goods exported to the U.S. from eight European countries starting February 1 due to Greenland-related issues, prompting strong responses from several European nations [1] - The geopolitical tensions are escalating, particularly in the context of resource competition and military actions [1] Market Implications - The combination of reduced interest rate cut expectations and geopolitical tensions is expected to lead to an increase in the prices of precious metals such as gold and silver [1] - The independence of the Federal Reserve may be questioned due to the upcoming appointment of a new chair and ongoing investigations into current chair Powell, potentially influencing market expectations for rate cuts [1]