贵金属日报-20251113

Report Industry Investment Rating - Gold and silver are both rated ★★★, indicating a clearer long trend and relatively appropriate investment opportunities currently [1] Core View of the Report - Overnight, precious metals continued their strong rebound, with silver showing elasticity. The end of the US government shutdown and market expectations of future interest rate cuts have led to a short - term shift to interest - rate cut trading, making commodities generally stronger. However, whether precious metals can regain their upward momentum remains to be confirmed, and international gold and silver should pay attention to the resistance at previous high positions [1] Other Key Points - After Trump signs the temporary appropriation bill, multiple federal departments such as the Department of Health and Human Services, the Department of the Interior, the Department of Housing and Urban Development, and the Department of Justice have notified employees to return to work on the 13th. But it's uncertain when furloughed employees will receive back pay and if salary payments can resume quickly [2] - Four voting local Fed presidents are not enthusiastic about another interest rate cut in December. Boston Fed President Collins believes the Fed will likely keep interest rates at the current level for some time, and before cutting rates, it's necessary to ensure inflation can sustainably return to 2% [2] - White House official Hassett hopes the Fed will cut interest rates by 50 basis points but expects only a 25 - basis - point cut, and is willing to accept the position of Fed Chairman if needed [2] - The US Supreme Court will hold an oral argument on Trump's request to fire Fed Governor Cook on January 21 next year [2]