财达期货｜贵金属周报：短期蓄势整理-20260119

Report Industry Investment Rating - Not provided Core Viewpoints - The short - term trend of precious metals is in consolidation, while the medium - term upward trend remains unchanged. The core logic of the market remains intact, with geopolitical turmoil and central bank gold - buying supporting gold prices, and strong industrial demand and supply shortages supporting silver prices. [2][8] Summary by Related Content Precious Metals Price Trends - Last week, gold prices rose to $4,600 per ounce, and silver prices reached a high of $92 per ounce and closed near the high of $90 per ounce. [3] Geopolitical Factors - Trump suspended the military action against Iran, leading to a slight cooling of short - term risk - aversion sentiment. However, the future situation remains uncertain. [3] US Economic Data - The number of initial jobless claims in the US last week dropped to 198,000, lower than market expectations, indicating the resilience of the labor market. The confidence of US homebuilders unexpectedly declined in January, and the market condition index dropped 2 points to 37. US manufacturing output increased by 0.2% in December, and industrial output unexpectedly grew in December with the previous month's value revised upwards. [5] Fed - related Factors - Trump's unwillingness to nominate Hassett as the Federal Reserve Chairman has led to a decrease in the market's expectation of interest - rate cuts, a rebound in the US dollar, and a decline in precious metals and other metal prices. There are many uncertainties in the appointment of the new Fed Chairman, and if the new chairman does not implement aggressive interest - rate cuts, the market's original expectations may change. [7]