ChainCatcher news, according to Jinshi reports, Citic Securities research report points out that based on its gold price analysis framework, it is optimistic about gold prices in 2025. The global central bank's gold purchasing behavior is expected to continue, and the signaling effect of central banks announcing gold purchases may become more pronounced.The enthusiasm for gold investment in the global market may persist, structurally leaning towards "Asia down, Europe and America up." In 2025, geopolitical conflicts in the Middle East, Russia, and Ukraine may become more unstable, which is favorable for gold prices to rise.In the medium term, cryptocurrencies and gold do not yet constitute a competitive relationship in risk-averse allocations. According to model predictions, under a neutral hypothesis, the COMEX gold futures price could reach over $3100 per ounce by mid-2025.

ChainCatcher news, a report from CITIC Securities states that if Trump plans to relax regulations on the cryptocurrency industry after taking office as President of the United States in 2025, the primary task will be to clarify the regulatory responsibilities of the industry. Against this backdrop, the currently stalled "21st Century Financial Innovation and Technology Act" in the U.S. Senate is expected to gain new momentum. With the anticipated easing of the regulatory environment in the U.S., the cryptocurrency industry chain in the U.S. stock market is expected to receive a positive boost, and three directions are recommended for attention:The increase in trading activity in the U.S. cryptocurrency industry may benefit U.S. cryptocurrency exchanges;Favorable policies for the U.S. cryptocurrency industry are expected to promote the growth of mining machine demand;The development of the U.S. cryptocurrency industry may benefit the U.S. utility sector. (Jin Shi)

ChainCatcher news, CITIC Securities stated that the Federal Reserve will cut interest rates by 25bps at the December 2024 meeting, which aligns with market expectations. The latest dot plot indicates that the target interest rate for next year is centered at 3.9%, higher than the 3.4% shown in the September 2024 meeting, while also raising the inflation and economic growth forecasts for next year and lowering the unemployment rate forecast.Powell's remarks did not provide clear guidance on the "magnitude and timing" of future rate cuts, but he expressed strong confidence in economic growth. From the SEP and Powell's statements, it is evident that the Federal Reserve has significant concerns about inflation next year. This meeting was much more hawkish than the market generally expected, but it aligns with our view that the Federal Reserve will cut rates twice in 2025. We maintain this view and expect that the Federal Reserve will likely pause rate cuts at the next meeting to observe, or may need to wait until the March meeting to provide clearer guidance. Volatility in the U.S. stock market is expected to increase. (Jin Shi)

ChainCatcher news, CITIC Securities pointed out that in November 2024, the number of new non-farm jobs in the United States slightly exceeded expectations, with healthcare services, leisure and hospitality, and government sectors being the main contributors, while retail was the main drag. After the impact of hurricanes and strike events dissipated, the non-farm employment data for November rebounded as expected. The unemployment rate has risen slightly, indicating a moderate weakening in the U.S. job market, but wage growth remains robust and there has been no significant layoffs by companies, keeping the overall job market healthy.After the release of the non-farm data, the market raised its expectations for the Federal Reserve's interest rate cuts. We believe that the market's expectations for a "soft landing" of the U.S. economy will last at least until next year before Trump's inauguration, and we maintain our previous judgment that the Federal Reserve will cut rates by 25bps at the December meeting. (Jin Shi)

ChainCatcher message, Citic Securities research report states that the U.S. October CPI growth rate fully meets expectations, with most sub-item readings being moderate, stable commodity prices, and persistent service inflation, increasing the likelihood of a Federal Reserve rate cut in December this year.After Trump's victory, the outlook for U.S. commodity inflation is a concern worth noting. We expect that the overall CPI year-on-year comparison in the remaining two months of this year will be difficult to show a significant decline. Considering the gradual impact of the tariffs and immigration deportation plans proposed by Trump, the year-on-year growth rate of the overall CPI in the U.S. next year may be around 2.6%.