国投期货贵金属日报-20251205

Report Summary 1. Report Industry Investment Rating - Gold and silver: ☆☆☆, representing a clearer long/short trend, with a relatively appropriate investment opportunity currently [1] 2. Core View - Overnight, the US weekly initial jobless claims dropped to 191,000, far below expectations and hitting a new low since September 2022, alleviating concerns about a sharp deterioration in the labor market. A December interest rate cut is largely priced in, and precious metals are mainly in a volatile state. Precious metals as a whole should not be chased higher before gold breaks through the previous high resistance. There is a supply gap for platinum this year, and the supply and demand are expected to be in a tight balance, with platinum outperforming palladium in terms of trend. Tonight, attention should be paid to the US September PCE data [1] - The White House National Economic Council Director Kevin Hassett said the Fed should cut interest rates at next week's meeting, predicting a 25 - basis - point cut, and hopes to "bring interest rates much lower" in the long run [2] - The World Gold Council stated that gold prices may fluctuate within a range next year, and a continued strong performance is not ruled out [2] - US Trade Representative Greer said Trump is considering withdrawing from the US - Mexico - Canada Agreement next year, and the possibility of breaking the tripartite tie is not excluded [2] 3. Other Key Information - Red stars represent a predicted trending up, green stars represent a predicted trending down. One star means being bullish/bearish, indicating a driving force for rising/falling but poor operability on the market. Two stars mean holding long/short positions, with a clearer rising/falling trend and the market situation fermenting. Three stars represent an even clearer long/short trend and a relatively appropriate investment opportunity currently. White stars mean the short - term long/short trend is in a relatively balanced state, with poor operability on the market and it is advisable to wait and see [3]