光大期货：美元重回弱势，金价小幅回升

Core Viewpoint - COMEX gold prices rebounded, closing at $5084.2 per ounce, reflecting a 2.10% increase, while domestic SHFE gold also saw a rise of 1.00% to ¥1127.00 per gram, indicating a recovery in the gold market amid cautious monetary policy signals from the U.S. Treasury Secretary [2][7]. Economic Indicators - U.S. Treasury Secretary Mnuchin indicated that even with Waller as Fed Chair, the balance sheet reduction will not be expedited, suggesting a cautious approach to monetary policy under the Trump administration [2][7]. - The upcoming U.S. non-farm payroll data is expected to show an increase of 69,000 jobs for January, with the unemployment rate projected to remain at 4.4%, slightly below the four-year high of 4.5% reached in November [2][7]. - A significant downward revision of 911,000 jobs is anticipated in the employment data, which could indicate a slower hiring pace [2][7]. Geopolitical Context - Tensions in the Gulf region persist, with ongoing U.S.-Iran-Oman negotiations failing to reach a consensus, maintaining the risk of conflict between the two nations [3][8]. - The sell-off in precious metals is nearing its end, but upward pressure remains in the market, complicating predictions due to geopolitical uncertainties [3][8].