Core Viewpoint - The article discusses recent developments in the gold market, employment data in the U.S., and interest rate expectations in Japan, highlighting potential impacts on global risk assets and precious metals prices [3][4][8]. Group 1: Gold Market - Overnight London spot gold experienced fluctuations, with COMEX gold futures rising by 0.44% and SHFE gold increasing by 0.09% [3][7]. - The market is closely monitoring the upcoming Federal Reserve meeting for potential interest rate cuts, with a 90% probability of a rate cut already priced in [4][8]. - Gold prices are showing strength amid market volatility, while silver, platinum, and palladium are experiencing weakness, indicating a potential for larger price adjustments in these metals compared to gold [4][8]. Group 2: Employment Data - Initial jobless claims in the U.S. fell to a new low since 2022, with claims decreasing by 27,000 to 191,000, significantly below market expectations of 220,000 [4][8]. - This decline suggests limited willingness for layoffs among employers, indicating resilience in the job market [4][8]. Group 3: Interest Rate Expectations - Japan's central bank is expected to raise its policy interest rate from 0.5% to 0.75%, marking the first increase since January [4][8]. - The anticipation of this rate hike may lead to a liquidation of "yen carry trades," putting pressure on global risk assets, particularly those denominated in U.S. dollars [4][8].