Minmetals Futures: Gold and Silver Prices May Enter a Short-term Phase of Correction

K-LinePoet · 2026-02-23T21:20:48+00:00

U.S. January non-farm payrolls added 130,000 jobs, and the unemployment rate dropped to 4.3%, exceeding expectations. The market's anticipation of a Federal Reserve rate cut has decreased, leading to a short-term decline in gold and silver. This Friday, CPI data remains the market's focus. The fiscal deficit has narrowed, and a wait-and-see approach is recommended strategically.

K-LinePoet

2026-02-23 21:20:48

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On the evening of February 11 at 9:30 PM, the U.S. reported a seasonally adjusted increase of 130,000 non-farm jobs in January, far exceeding market expectations. The unemployment rate slightly decreased to 4.3%, indicating a strong overall employment market. Coupled with the optimistic statements from the U.S. Treasury Secretary regarding the economy and employment, market expectations for Fed rate cuts further cooled. After the data release, gold and silver prices in the overnight market sharply declined, suggesting a potential short-term phase of correction. The upcoming CPI data release this Friday remains a key market focus. Additionally, U.S. January fiscal revenue and expenditure data, along with budget deficit figures, were released simultaneously, showing that the federal deficit for the 2026 fiscal year has narrowed compared to the same period last year. Strategically, a wait-and-see approach is currently maintained. (Minmetals Futures)

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