周五(12月5日)亚市盘中，现货黄金窄幅震荡，目前交投于4205美元/盎司附近，美国初请失业金人数创 三年新低，打压金价走低，但受到降息预期，以及买盘支撑，再加上市场在等待关键的美国通胀数据， 以研判美联储下周的政策前景，黄金市场呈现出多空因素拉锯的格局。 今日现货黄金开盘先行偏弱运行，受到昨日美元指数的收涨暂止跌的的压力，但金价仍维持在中轨上 方，美元指数也处于布林带下行通道，以及200日均线阻力下方，前景仍偏弱，故此，对于金价来说， 仍是偏向利好和对于金价的回落也仍是入场看涨机会。 日内将可关注美国9月PCE物价指数，如数据显示通胀压力缓和，黄金价格或走强再度触及4260美元或 更高位置；反之，金价将继续震荡调整或有回落走低的倾向。 不过近期劳动力市场数据信号不一：周四数据显示上周初请失业金人数降至逾三年最低，周三的ADP报 告则又显示民间就业岗位减少。因而，不管公布的数据是显示通胀走强还是缓和，预计金价都还是继续 维持震荡调整，等待下周的美联储利率决议和非农数据公布之后才能走出方向。 从技术面来看，黄金日线继续保持在均线支撑上运行，还没有形成弱势表现，所以，继续保持强势不 变，H4周期布林收口不变，经过 ...

Core Viewpoint - Gold prices are experiencing a slight decline due to profit-taking by investors and a stronger US dollar supported by positive economic data, limiting upward movement in gold prices [1][3]. Economic Data Impact - The US Bureau of Economic Analysis reported a revised annualized GDP growth rate of 3.3% for Q2, surpassing the initial estimate of 3.0% and market expectations of 3.1%, indicating economic resilience [3]. - Initial jobless claims fell to 229,000 for the week ending August 23, down from a revised 234,000, reinforcing stability in the labor market [3]. Interest Rate Expectations - The expectation of a potential interest rate cut may lower the opportunity cost of holding gold, providing support for the precious metal [4]. - The market is focused on the upcoming release of the July Personal Consumption Expenditures (PCE) price index, with expectations of a 2.6% year-over-year increase in overall PCE and a 2.9% increase in core PCE [4]. Technical Analysis - Despite the recent price pullback, the long-term bullish trend for gold remains intact, with key technical indicators showing continued bullish momentum [5]. - The price is holding above the 100-day Exponential Moving Average (EMA) at $3,279.45, and the Relative Strength Index (RSI) is around 60.50, indicating ongoing bullish momentum [5]. - Key resistance is noted at the upper Bollinger Band of $3,425, while initial support is at the August 27 low of $3,373 [5]. Market Sentiment - The current market environment shows that gold prices are influenced by both US economic data and Federal Reserve policy expectations, with a focus on the upcoming PCE data and the September FOMC meeting [7]. - Despite short-term pressures, the long-term bullish logic for gold remains unchanged, suggesting that investors should adjust trading strategies based on key technical levels and macroeconomic data [7].

Group 1 - The core viewpoint of the articles highlights a significant increase in the performance of gold mining companies, with notable stock price rises in companies like Jiangxi Copper and Zijin Mining, driven by favorable market conditions and financial results [1][2] - The China Securities Index for gold industry stocks (931238) rose by 2.71%, with individual stocks such as Jiangxi Copper (00358) increasing by 10.66% and China Gold International (02099) by 10.03% [1] - Recent financial reports from gold mining companies show substantial revenue growth, with Jiangxi Copper reporting a revenue of RMB 256.96 billion and a net profit of RMB 4.175 billion for the first half of 2025, marking a year-on-year increase of 15.42% [1] Group 2 - The U.S. second-quarter GDP annualized revision showed a growth of 3.3%, exceeding expectations, while the core Personal Consumption Expenditures (PCE) price index rose by 2.5%, aligning with initial estimates but below expectations [1][2] - The performance of gold stocks is being positively influenced by the recent dovish stance of the Federal Reserve, which has led to an upward trend in gold prices [2] - Investors are encouraged to consider the largest gold stock ETF (517520) and its associated funds as effective tools for investing in the gold sector, allowing for efficient capture of gold price gains and diversification of individual stock risks [2]