Last week, the COMEX Gold price rose by 0.61% to $2652.70 per ounce, while the main Shanghai gold contract increased by 1.25% to 627.96 yuan per gram.

On the geopolitical front, Israel stated that if Hezbollah does not withdraw its troops from southern Lebanon, the ceasefire agreement between Lebanon and Israel will no longer exist, and Israel will be forced to take action.

In terms of interest rate cuts, the latest CME "Fed Watch" data shows that the probability of maintaning the interest rate in January is 88.8%, the probability of a 25 basis point cut is 11.2%, the probability of maintaining the current rate until March is 53.3%, the cumulative probability of a 25 basis point cut is 42.2%, and the cumulative probability of a 50 basis point cut is 4.5%.

Overall, the market's trading logic remains that the Federal Reserve will pause interest rate cuts, with short-term Gold primarily in a state of fluctuation.

Data source: Wind, Cnstock data, and Everbright Futures Research Institute.

Written by: Wu Aihua

Professional qualification: F3074355

Investment advisory qualification: Z0017696

Disclaimer: The views, suggestions, and conclusions in this article are for reference only. The sources of the materials in the report are public information, and the relevant analyses and suggestions do not constitute the basis for investment operations of the mentioned varieties. Any investment decisions made based on this are not related to the company and the author.