1月7日，COMEX黄金高位震荡，重心小幅下移，报收4467.1美元/盎司，跌幅0.65%。国内SHFE金夜盘 继续窄幅震荡，报收1002.20元/克，跌幅0.31%。 周三，美国12月ADP就业人数增加4.1万人，低于市场预期中值4.7万人ADP数据显示12月私人部门招聘 步伐温和，指向劳动力市场动能正在放缓。但随后公布的ISM服务业指数显示，美国12月ISM非制造业 PMI 54.4，预期52.3，前值52.6，以一年多来最快的速度扩张，又描绘出经济需求依旧强劲的画面，矛 盾的信号让市场陷入观望。美元指数小幅回升，一定程度上抑制金价走势。 地缘政治方面，美国白宫称开始全球兜售委内瑞拉石油，美能源部长称将"无限期"控制委售油。央行数 据显示，中国12 月末黄金储备报 7415 万盎司（约 2306.323 吨），环比增加 3 万盎司（约 0.93 吨）， 这也是央行连续第 14 个月增持黄金。地缘不确定及央行购金动作仍对金价存在支撑。考虑到昨晚市场 分歧加大，贵金属和有色板块开始出现降温，这也是近期部分品种再次出现过热现象后多头获利了结的 结果，继续关注本周五美国非农数据对盘面的指引。 资料来源：Wind、 ...

热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 1月5日，COMEX黄金企稳，价格继续上冲，报收4459.7美元/盎司，涨幅3.00%。国内SHFE金夜盘继续 修复节前跌幅，价格重回1000点以上，报收1001.60元/克，涨幅0.93%。 供应管理协会（ISM）周一公布的数据显示，美国12月ISM制造业指数从48.2小幅下降至47.9。该指标 已连续10个月低于50，且萎缩幅度为自2024年以来最大，给美国制造业艰难的一年画上了句号。从分项 指数来看，12月共有15个行业出现收缩，其中服装、木制品和纺织品行业领跌；仅有两个行业实现增 长，为自2023年底以来最少。一定程度上提振降息预期，支撑金价走势。 地缘方面，元旦期间美委冲突虽然快速结束，但市场担忧美对委内瑞拉打开"潘多拉魔盒"，成为开年首 月主要聚焦因素，避险资金涌入贵金属市场，预计将推动黄金维持偏强走势。 资料来源：Wind、光大期货研究所 撰稿：史玥明 从业资格：F03097365 交易咨询资格：Z0017563 供应管理协会（ISM）周一公布的数据显示，美国12月ISM制造业指数从48.2小幅下降至47.9。该指标 已连续10个 ...

来源：市场资讯 12月24日，COMEX黄金先涨后跌，收十字星，报收4505.4美元/盎司，跌幅0.01%。国内SHFE金夜盘震 荡回落，报收1010.30元/克，跌幅0.23%。 昨夜，受美联储进一步降息预期及美元走软推动，现货黄金在隔夜交易中一度强势突破4500美元的整数 关口，白银也突破72美元。然而，随着北美交易时段开启，恐慌指数VIX和债券市场波动率继续下行。 此外，美国12月20日当周首申失业金人数降至21.4万人，预期和前值为22.4万人，表明劳动力市场仍未 见明显压力。美国财政部长贝森特支持在通胀率稳步回落至2%之后，重新审视美联储的这一通胀目 标，主张央行退居幕后、缩小干预，并与财政部协同配合。美元指数则终结两连跌，获利了结盘涌出， 金价未能守住涨幅，价格出现回踩。这在一定程度上说明近期贵金属市场存在过热情绪，多空之间的分 歧放大，建议投资者谨慎对待。 资料来源：Wind、光大期货研究所 交易咨询资格：Z0017563 免责声明：本报告的信息均来源于公开资料，我公司对这些信息的准确性、可靠性和完整性不作任何保 证，也不保证所包含的信息和建议不会发生任何变更。我们已力求报告内容的客观、公正，但 ...

热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 从业资格：F03097365 交易咨询资格：Z0017563 免责声明：本报告的信息均来源于公开资料，我公司对这些信息的准确性、可靠性和完整性不作任何保 证，也不保证所包含的信息和建议不会发生任何变更。我们已力求报告内容的客观、公正，但文中的观 点、结论和建议仅供参考，并不构成任何具体产品、业务的推介以及相关品种的操作依据和建议，投资 者据此作出的任何投资决策自负盈亏，与本公司和作者无关。 客户端 12月22日，COMEX黄金大幅上冲，报收4480.6美元/盎司，涨幅2.13%。国内SHFE金夜盘开盘后明显走 高，随后高位震荡，报收1003.08元/克，涨幅1.60%。 美联储官员就明年降息预期继续产生较大分歧：美国白宫国家经济委员会主任哈塞特表示美联储仍有很 大降息空间；美联储古尔斯比表示11月通胀数据良好，对前置降息感到不安。尽管市场对美联储未来降 息空间并不乐观，但市场就美联储未来主席人选及2016年降息次数和扩表节奏展开讨论和定价，出于对 金融市场流动性和经济就业疲软，市场仍偏乐观看待。此外，美国总统特朗普可能在明年1月第一周任 命新的美联储主 ...

热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 12月16日，COMEX黄金盘中走高，报收4332.2美元/盎司，跌幅0.07%。国内SHFE金夜盘价格先涨后 跌，报收974.22元/克，跌幅0.14%。 根据昨晚美国劳工部数据，美国11月非农就业人口增加6.4万人，高于市场预期的5万人，但制造业就业 人数已降至2022年3月以来最低水平；但失业率却意外升至4.6%，创下2021年9月以来的新高，不过失 业率的上行同步伴随劳动参与率的上行；10月非农就业大幅减少10.5万人；8月和9月也合计下修3.3万 人；11月平均时薪同比增长3.5%，为2021年5月以来最低增速，实际薪资增长正在减速。从就业数据端 显示出相对偏弱的趋势，但市场仍未能就数据达成对于美联储的降息共同预期，黄金波动幅度加大。 本周四晚将公布美国11月CPI数据，关注通胀数据对降息预期的进一步指引。另外，日央行会议临近， 市场谨慎对待，料短期黄金仍处于震荡走势。 资料来源：Wind、光大期货研究所 撰稿：史玥明 从业资格：F03097365 交易咨询资格：Z0017563 免责声明：本报告的信息均来源于公开资料，我公司对这些信 ...

Core Viewpoint - The article discusses the recent fluctuations in gold prices and the economic indicators from the New York Federal Reserve, highlighting a mixed outlook for the manufacturing sector and potential implications for future monetary policy decisions by the Federal Reserve [3][7]. Economic Indicators - On December 15, COMEX gold prices initially rose before falling, closing at $4334.3 per ounce, with a gain of 0.14%. In contrast, the domestic SHFE gold night market price decreased, closing at 975.52 yuan per gram, down 0.18% [3][7]. - The New York Federal Reserve reported a significant drop in the general business conditions index, falling approximately 23 points to -3.9, indicating a contraction in the manufacturing sector. However, the outlook for the next six months improved, with the outlook index rising 16.6 points to its highest level since the beginning of the year, reflecting increased optimism regarding orders and shipments [3][7]. Federal Reserve Insights - The President of the Boston Federal Reserve expressed support for the recent interest rate cut, acknowledging the difficulty of the decision due to ongoing concerns about high inflation [3][7]. - Market discussions are focused on the future chairperson of the Federal Reserve and the pace of interest rate cuts in 2016. The market remains optimistic, considering the liquidity in financial markets and the weak employment outlook, which supports a stronger gold price trend [3][7]. Upcoming Data - Non-farm payroll data is set to be released on Tuesday evening, which may guide future Federal Reserve monetary policy. If the data significantly underperforms expectations, it could lead to further pricing in of liquidity easing. Conversely, stronger-than-expected data may pose a risk of short-term corrections in precious metals [3][7].

Group 1 - COMEX gold maintained a high-level fluctuation pattern, closing at $4234.8 per ounce with an increase of 0.33% [2][6] - The latest ADP employment data showed a decrease of 32,000 private sector jobs in November, marking the largest decline since March 2023, significantly below the market expectation of an increase of 40,000 jobs [2][6] - The market anticipates a nearly 90% probability of the Federal Reserve lowering interest rates by 25 basis points, which has supported gold prices [2][6] Group 2 - The ISM services PMI index for November rose to 52.6, the highest in nine months, exceeding the expected 52.0, driven by extended supplier delivery times and improved business activity [2][6] - Trump's hint at Hassett as the next Federal Reserve Chair suggests a potential strengthening of dovish market sentiment, although balancing monetary stimulus and inflation remains a challenge [3][6] - Investors are advised to be cautious of potential technical corrections in precious metals due to market overheating and the fact that the Fed's rate cut is largely priced in [3][6][7]

Group 1 - The core viewpoint of the articles indicates that gold prices are experiencing fluctuations influenced by various economic factors, including the Federal Reserve's monetary policy and geopolitical events [1][3][4] - Gold prices have recently tested key support levels, with current trading around $3372.79, indicating a potential upward trend after overcoming previous resistance [1][4] - The market is reacting to Federal Reserve Chairman Powell's comments at the Jackson Hole meeting, which are interpreted as dovish signals, but the actual implications for interest rate cuts remain uncertain [3][4] Group 2 - The dismissal of Federal Reserve Governor Cook by President Trump reflects dissatisfaction with the Fed's cautious approach to interest rate adjustments, highlighting a conflict between the administration's economic stimulus goals and the Fed's dual mandate [4] - Technical analysis suggests that gold prices may continue to oscillate around key support levels, with potential upward movement expected after a period of consolidation [4][5] - Short-term trading strategies indicate that traders should monitor specific support and resistance levels, with a focus on potential entry points for bullish positions [5][6]

Group 1 - The current gold price is experiencing fluctuations, with a recent drop to around 3320 before rebounding, indicating a potential resistance at 3345-47 and 3362 levels [1][3] - COMEX gold has seen a decline for three consecutive days, closing at 3338.5 USD/oz, reflecting a drop of 1.04% [3] - The recent EU-US trade negotiations resulted in an agreement favoring the US, highlighting the EU's weakened position in global economic negotiations [3] Group 2 - The gold market is currently under bearish pressure, with prices trading below key moving averages, but there is potential for a rebound if support levels are tested [4] - Last week's gold market was influenced by fundamental factors, with a high of 3439.2 and a low of 3324.6, closing at 3336.5, forming a long upper shadow candlestick pattern [4] - Current support levels for gold are identified at 3324 or 3304 USD, while resistance levels are at 3340 or 3357 USD [5]

Group 1 - The core viewpoint indicates that gold prices are experiencing a wide range of fluctuations, with current trading around the support levels established previously [1][4] - COMEX gold prices have declined to $3371.3 per ounce, reflecting a decrease of 0.77%, while domestic SHFE gold prices are reported at 778.08 yuan per gram, down 0.78% [3] - The latest PMI data shows a significant slowdown in the manufacturing sector, with the manufacturing PMI at 49.5, below expectations, while the services PMI is at 55.2, indicating a reliance on the service sector for economic growth [3] Group 2 - The weekly chart suggests that gold prices are expected to remain within the range of $3000 to $3500 for the second half of the year, with potential upward movement anticipated next year [4] - Short-term trading strategies should focus on the support and resistance levels, with key support identified at $3350 or $3335 and resistance at $3382 or $3393 [5]