光大期货0129黄金点评：鲍威尔重申美联储独立性，金价不为所动续创历史新高

Core Viewpoint - COMEX gold prices surged significantly, closing at $5411.0 per ounce, with a 4.47% increase, while domestic SHFE gold also saw a rise of 3.36% to 1196.8 yuan per gram, indicating strong market sentiment towards gold [2][4]. Group 1: Federal Reserve Actions - The Federal Reserve decided to maintain interest rates, marking the first pause in rate cuts since September 2025, after three consecutive meetings of rate reductions [2][4]. - Fed Chair Jerome Powell indicated that inflation risks have somewhat diminished and employment risks are stabilizing, suggesting that rate hikes are not a fundamental assumption for future actions [2][4]. - Powell mentioned that the impact of tariffs has largely been transmitted to the economy, with expectations that tariff-induced inflation will dissipate by mid-2026 [2][4]. Group 2: Market Reactions and Economic Context - U.S. Treasury Secretary Janet Yellen reaffirmed the commitment to a strong dollar policy, despite the dollar experiencing fluctuations [5]. - The strong performance of gold is attributed to several factors, including ongoing government shutdown threats, potential announcements of a dovish Fed chair by the Trump administration, and heightened geopolitical tensions in Iran [5]. - The continuous breakthroughs in gold prices reflect a prevailing bullish market sentiment, although caution is advised regarding the risks of chasing high prices [5].