多位美联储官员放鹰使贵金属价格承压：贵金属日评20251118-20251119

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints - Multiple Fed officials' hawkish remarks have put pressure on precious metal prices. The probability of a Fed rate cut in December has dropped below 40%. Short - term precious metal prices may adjust due to upcoming US economic data and uncertain future expectations. However, factors such as global debt expansion, fiscal deficit growth, continuous gold purchases by central banks, and geopolitical risks may support precious metal prices in the medium - to - long term [1]. 3. Summary by Related Content Precious Metal Market Data - Shanghai Gold: The closing price of the futures active contract was 929.46 yuan/gram on 2025 - 11 - 18, down 23.74 yuan from the previous week. The trading volume was 307,687.00, and the open interest was 101,723.00, down 29,322.00 from the previous week. The closing price of spot Shanghai gold T + D was 930.22 yuan/gram, down 16.28 yuan from the previous week. The trading volume was 82,068.00, and the open interest was 232,228.00, down 946.00 from the previous week [1]. - Shanghai Silver: The closing price of the futures active contract was 11,933.00 yuan/ten - gram on 2025 - 11 - 18, down 418.00 yuan from the previous week. The trading volume was 1,026,209.00, and the open interest was 233,702.00. The closing price of spot Shanghai silver T + D was 11,970.00 yuan/ten - gram, down 356.00 yuan from the previous week. The trading volume was 759,026.00, and the open interest was 51,236.00 [1]. - COMEX International Gold: The closing price of the futures active contract was 4045.10 US dollars/ounce on 2025 - 11 - 18, down 39.30 US dollars from the previous day. The trading volume was 231,322.00, and the open interest was - 12,222.00. The London gold spot price was 4071.10 US dollars/ounce. The SPDR gold ETF holding was 1041.43 tons, down 2.57 tons from the previous week [1]. - COMEX International Silver: The closing price of the futures active contract was 50.05 US dollars/ounce on 2025 - 11 - 18, down 0.35 US dollars from the previous day. The trading volume was 11,693.00, and the open interest was 70,253.00. The London silver spot price was 52.01 US dollars/ounce [1]. Important Information - Trump's chief economic advisor Hasset said that AI - driven productivity gains may lead to a "quiet period" in the job market, and the Fed should be truly "data - driven" [1]. - Fed Chair candidate Waller supports a December rate cut, while Fed Vice - Chair Jefferson emphasizes a slow - paced policy approach [1]. Trading Strategy - Wait for price pull - backs to enter long positions. For London gold, pay attention to support levels around 3850 - 3950 and resistance levels around 4180 - 4384. For Shanghai gold, focus on support around 870 - 890 and resistance around 960 - 1000. For London silver, watch support around 38 - 45 and resistance around 52 - 55. For Shanghai silver, look at support around 10000 - 11000 and resistance around 12400 - 13000 [1].