周三（11月26日）亚盘时段，现货黄金延续隔夜反弹表现强势，目前暂交投于4163美元附近。周二金价持稳于每盎司4130美元附近，尽管受到了美国经济数 据疲软和美联储降息预期升温的双重影响，周二盘中一度触及4159.15美元的高点，但整体走势平稳，未能进一步突破，临近美国感恩节假期，市场整体交 投受限。当然，弱于预期的零售销售数据、顽固的通胀压力，以及美联储官员的鸽派言论，都在悄然推动黄金价格的潜在上行空间。 美国国债收益率连续第四个交易日下跌，周二10年期国债收益率触及4%的近一个月低点，两年期收益率也跌至3.461%的10月24日以来最低。这反映出债市 对美联储鸽派转向的强烈预期，收益率曲线趋陡，两年/十年期收益率差从53个基点扩大至54个基点。五年期公债标售需求疲软，得标利率为3.562%，投资 者要求小幅溢价，这部分归因于哈西特消息推动的涨势延续。美元指数周二下跌0.5%至99.746，受经济数据和美联储鸽派言论拖累。股市则延续涨势，道琼 斯工业指数上涨1.43%至47112.45点，标普500指数涨0.91%至6765.89点，纳斯达克指数涨0.67%至23,025.59点。 美国经济的最新指标显示出 ...

Group 1 - The recent easing of international trade tensions has led to a rapid recovery in market risk appetite, resulting in a significant decline in gold prices, with London gold spot prices dropping 3.66% to $3202.2 per ounce and COMEX gold futures falling 3.72% to $3205 per ounce [2] - Analysts indicate that the adjustment in precious metal prices is primarily due to the unexpected extent of the easing in trade tensions, prompting a shift of funds from safe-haven assets to riskier assets [2][3] - The geopolitical landscape has also contributed to the decline in gold prices, with expectations of improved U.S.-Iran relations and a reduction in tensions between India and Pakistan [3] Group 2 - Speculative net long positions in COMEX gold decreased by 1,300 contracts to 161,200 contracts, while the long-to-short ratio rebounded by 1.6% [3] - The outlook for precious metals remains mixed, with key resistance levels providing support, and expectations of a shift in U.S. Federal Reserve policy potentially limiting further price declines [3][4] - The market is advised to monitor changes in U.S. Treasury yields, as recent political disagreements have impacted market expectations significantly [5]