On January 21, COMEX gold continued its upward surge, experiencing a slight pullback in the late session to close at $4836.2 per ounce, marking a gain of 1.48%. Domestically, the SHFE gold night session fluctuated and trended weaker, closing at 1091.8 yuan per gram, up 1.09%.
On Wednesday, January 21, Eastern Time, former President Trump announced that he had reached a framework agreement with NATO Secretary General Rutte regarding Greenland, thereby temporarily postponing the tariff increase plan on European countries scheduled to take effect on February 1. According to a report, Trump stated after meeting with Rutte in Davos, Switzerland, that he would not immediately impose tariffs on the eight European nations opposing the U.S. acquisition of Greenland as originally planned. Trump indicated that the United States does not intend to acquire Greenland by military means and emphasized a preference for "immediate negotiations." This series of statements was interpreted by the market as another classic "TACO" moment, swiftly alleviating the worst-case expectations surrounding an escalation in U.S.-Europe relations. The回暖 in risk sentiment was immediately reflected in the stock market, with the S&P 500 index rising 1.2%, while the降温 in safe-haven demand contributed to a weaker gold price.
With the Federal Reserve's upcoming interest rate meeting next week, Trump mentioned he may have already selected a candidate for Fed Chair, hoping for someone like Greenspan, again hinting that Hassett is "out." However, foreign media reported that the U.S. Supreme Court might reject Trump's request to remove Federal Reserve Governor Cook. This move to defend the Fed's independence has led to a shift in market expectations, weakening the drivers for precious metals. Following the recent rapid surge in gold prices, short-term caution is warranted against the risk of a high-level correction.
Source: Wind, Everbright Futures Research Institute Author: Shi Yueming Practitioner Qualification: F03097365 Trading Advisory Qualification: Z0017563 Disclaimer: The information in this report is sourced from publicly available materials. Our company makes no guarantees regarding the accuracy, reliability, or completeness of this information, nor do we guarantee that the information and recommendations contained herein will not change. We have strived for objectivity and fairness in the report's content, but the views, conclusions, and recommendations are for reference only and do not constitute recommendations or operational basis for any specific products, businesses, or related instruments. Investment decisions made by investors based on this report are at their own risk and are unrelated to our company and the author.
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