TechFlow news, November 25 — According to Jinshi Data, Everbright Futures commented: On November 24, COMEX gold rose sharply at the close, settling at $4,133.8 per ounce, up 1.33%. The domestic SHFE gold night session opened higher and fluctuated, closing at 934.74 yuan/gram, up 0.541%. As instability in the U.S. financial markets becomes more evident, the Federal Reserve has adopted a dovish tone regarding a potential rate cut in December. Last night, San Francisco Fed President Daly expressed support for a rate cut at the next meeting, citing a greater likelihood of a sudden deterioration in the labor market—which would be harder to manage than rising inflation. Combined with previous supportive comments from the New York Fed President, market expectations for a December rate cut have surged, temporarily easing concerns over liquidity. This helped stabilize U.S. equities, weakened the dollar, and boosted short-term gold performance. Geopolitically, the U.S. and Russia proposed a 28-point "peace agreement" on the Russia-Ukraine conflict, but significant disagreements remain. Ukraine later stated that the U.S. and Ukraine had finalized a revised peace draft, while Russia claimed the European proposal was non-constructive and only the U.S. proposal could serve as a basis for a peace deal. In the short term, gold is supported by rate cut expectations, but as geopolitical tensions around Russia-Ukraine show signs of easing and any Fed rate cuts are likely to be reactive and unsustainable, gold may remain range-bound at high levels. From an operational standpoint, given the unclear outlook for gold prices, investors should stay cautious or consider buying at dips from an asset allocation perspective.
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