蓝莓市场：黄金反弹乏力周线承压 美国通胀数据牵动利率预期

Core Viewpoint - The international gold market rebounded on Friday after hitting a near one-week low, as investors await key U.S. inflation data to clarify the Federal Reserve's interest rate direction. Strong U.S. employment data previously suppressed rate cut expectations, putting pressure on gold prices this week [1][3]. Group 1: Market Performance - As of 06:26 GMT, spot gold rose by 0.6% to $4,949.99 per ounce, but is still down 0.2% for the week, failing to reverse the weekly weakness [1]. - Gold futures for April delivery increased by 0.4% to $4,968 per ounce, mirroring the spot gold trend but also unable to change the weekly adjustment trend [1]. - On Thursday, gold fell approximately 3%, dropping below the critical support level of $5,000 per ounce, exacerbated by a stock market crash that increased selling pressure on gold [3]. Group 2: Economic Indicators - Strong U.S. employment data released on Wednesday indicated a better-than-expected job market performance, reinforcing expectations that policymakers may maintain current interest rates for an extended period [3]. - The market is currently focused on the upcoming U.S. inflation data, which will directly influence the Federal Reserve's monetary policy path and adjust investment strategies [3]. - There is a market expectation that the Federal Reserve will implement two rate cuts of 25 basis points this year, with the first anticipated in June [3]. Group 3: Global Demand Factors - Changes in demand from major global gold consumption markets are also marginally impacting gold prices. India's gold market saw its first monthly discount this week due to weak demand, which has suppressed buying and selling willingness [3]. - The Chinese market experienced strong demand during the Lunar New Year, providing significant support for global gold demand [3]. Group 4: Other Precious Metals - Other precious metals also rebounded on Friday but did not reverse their weekly weakness. Spot silver rose by 1.5% to $76.31 per ounce, recovering part of Thursday's 11% decline, but is still expected to drop 2.1% for the week [4]. - Spot platinum increased by 0.9% to $2,018.44 per ounce, while palladium rose by 2.2% to $1,652.31 per ounce, both expected to show weekly losses [4]. - The rebound in gold and other precious metals is seen as a technical correction and does not change the overall weakness observed this week, with the core issue being the uncertainty surrounding the Federal Reserve's interest rate policy [4].