贵金属日报-20260114

1. Report Industry Investment Ratings - Gold: ★☆☆, indicating a bullish bias but with limited operability on the trading floor [1] - Silver: ★☆☆, suggesting a bullish bias but with limited operability on the trading floor [1] - Platinum: ★☆☆, implying a bullish bias but with limited operability on the trading floor [1] - Palladium: ★☆★, showing a relatively stronger bullish bias [1] 2. Core Views of the Report - The overall precious metals market remains prone to rising and difficult to fall. Gold and silver continue their breakthrough trends, while the volatility of platinum and palladium has decreased, with the potential to challenge previous highs [1] - The 12 - month unadjusted CPI annual rate in the US remained flat at 2.7% in December, in line with expectations, and the core CPI was 2.6%, slightly lower than expected. Trump criticized Powell again, calling for significant interest rate cuts [1] - The situation in Iran is highly tense. Trump has cancelled all meetings with Iranian officials. The EU is discussing additional sanctions against Iran, and Vance is scheduled to meet with the national security team this morning to formulate a strategy against Iran [1][2] - The "Fed whisperer" Nick Timiraos said that the December CPI is unlikely to change the Fed's current wait - and - see attitude. To resume interest rate cuts, Fed officials may need to see new evidence of deteriorating labor market conditions or weakening price pressures [2] - In the four weeks ending December 20, 2025, private - sector employers added an average of 11,750 jobs per week according to the ADP weekly employment report [2] 3. Summaries by Related Content Macroeconomic Data - US December unadjusted CPI annual rate remained flat at 2.7%, in line with expectations; core CPI was 2.6%, slightly lower than expected [1] - In the four weeks ending December 20, 2025, private - sector employers added an average of 11,750 jobs per week [2] Fed's Attitude - The 12 - month CPI is unlikely to change the Fed's current wait - and - see attitude. To resume interest rate cuts, Fed officials may need to see new evidence of deteriorating labor market conditions or weakening price pressures, which may require at least a few more months of inflation data [2] Geopolitical Situation - The situation in Iran is highly tense. Trump has cancelled all meetings with Iranian officials. The EU is discussing additional sanctions against Iran, and Vance is scheduled to meet with the national security team this morning to formulate a strategy against Iran [1][2] Precious Metals Market - Precious metals are generally prone to rising and difficult to fall. Gold and silver continue their breakthrough trends, while the volatility of platinum and palladium has decreased, with the potential to challenge previous highs. Attention is focused on US PPI and retail sales data tonight [1]