宁证期货：美联储官员打压降息预期 黄金中期依然看高位震荡

Macro News - The main focus is on the fluctuations in precious metals, with the Shanghai gold futures reporting a price of 1130.40 CNY per gram, an increase of 0.56% [1] - The opening price for Shanghai gold futures was 1122.68 CNY per gram, with a daily high of 1132.60 CNY and a low of 1117.00 CNY [1] - The U.S. reported a 0% month-on-month change in December retail sales, which was below both predictions and previous values, leading to market attention on upcoming non-farm employment data [1] Institutional Views - Federal Reserve official Logan stated that the current policy stance is appropriate, indicating no need for further rate cuts if inflation decreases and the labor market remains stable in the coming months [1] - Federal Reserve official Harmack mentioned that the current target interest rate is "close" to neutral, suggesting that the Fed's rate policy may remain unchanged for a considerable period [1] - The assessment indicates that while Fed officials are downplaying rate cut expectations, geopolitical tensions and political disturbances in the U.S. still pose uncertainties, which may provide long-term support for gold [1] - The medium-term outlook for gold remains bullish with expectations of high-level fluctuations, particularly in response to geopolitical disturbances [1]