金银拉升，现货黄金突破4200美元/盎司

Core Viewpoint - The article discusses the recent trends in gold and silver prices, highlighting the increasing demand from central banks and the potential future movements in gold prices due to various economic factors [3]. Group 1: Gold Market Insights - As of November 30, China's gold reserves reached 74.12 million ounces (approximately 2,305.39 tons), marking an increase of 30,000 ounces (about 0.93 tons) month-on-month, continuing a streak of 13 consecutive months of gold accumulation by the central bank [2]. - Central banks have been a major source of demand for gold in recent years, but some are now reducing their gold holdings due to rising prices, indicating a potential shift in asset allocation strategies [3]. - The World Gold Council forecasts that gold prices could rise by 15% to 30% in 2026, driven by factors such as declining U.S. Treasury yields and heightened geopolitical tensions, although a potential correction of 5% to 20% could occur if "re-inflation returns" [3]. Group 2: Market Expectations and Central Bank Actions - The upcoming Federal Reserve meeting on December 11 is highly anticipated, with over an 86% probability that the Fed will cut rates by 25 basis points, which will significantly influence the trajectory of risk assets and global central bank policies for 2026 [3]. - Other central banks, including those of Canada, Australia, Switzerland, Brazil, Ukraine, and Turkey, are also set to announce their interest rate decisions this week, indicating a broader global focus on monetary policy adjustments [4].