Galaxy Futures: Gold and silver are temporarily unlikely to gain further upward momentum in the short term

Yesterday, the United States released the January non-farm payroll data. The January figures were impressive, with new employment far exceeding expectations and the unemployment rate further decreasing, indicating that the US labor market remains resilient. As a result, the dollar index and Treasury yields rose, putting pressure on gold and silver. However, at the same time, the Labor Department significantly revised down the non-farm employment forecast for 2025, erasing most of the new jobs added in 2025. The market is weighing the unexpectedly strong January data against the large downward revision of 2025’s new employment figures and the credibility of the data, ultimately leading to gold and silver fluctuating within high ranges. Overall, after this data release, the market has delayed expectations of rate cuts this year, with Federal Reserve officials generally adopting a hawkish tone. Gold and silver are temporarily unlikely to gain further upward momentum and may continue to fluctuate at high levels. Moving forward, the market’s focus will shift to the US CPI data due on Friday evening. With the Chinese New Year approaching and market liquidity decreasing, it is advisable to participate with light positions or stay on the sidelines. (Galaxy Futures)