国投期货贵金属日报-20260108

Report Industry Investment Rating - Gold: ★☆☆, indicating a bullish bias but with limited operability on the trading floor [1] - Silver: ★☆★, suggesting a short - term balance in the trend and poor operability, with a recommendation to wait and see [1] Core View of the Report - Precious metals declined today. The US ADP employment increase in December was slightly lower than expected but better than the previous value, and the ISM non - manufacturing PMI was better than expected and the previous value. The Shanghai Futures Exchange adjusted trading limits, contract margin ratios, and price limit ranges for silver futures. With global geopolitical turmoil continuing at the beginning of the year and market sentiment driving sharp fluctuations, precious metals are testing resistance at previous highs. Consider participating in a breakout or waiting for volatility to decline before re - entering the market. Tonight, focus on the US weekly initial jobless claims data [1] Other Key Points - The US Secretary of State will meet with Denmark next week to discuss Greenland issues [2] - Trump believes that the military budget in 2027 should be $1.5 trillion instead of $1 trillion [2] - China's gold reserves at the end of December were reported at 74.15 million ounces, a month - on - month increase of 30,000 ounces, marking the 14th consecutive month of gold purchases [2]