Chuangxin Futures: Gold and silver soar, with COMEX gold surging over 4% in a single day.

Last night, the COMEX gold futures contract surged 4.20% to $4,308 per ounce, marking the largest single-day increase since February. The COMEX silver futures contract also rose 4.19% to $62.255 per ounce. During todays Asian session, gold prices fluctuated around $4,250, consolidating. The ADP employment data significantly missed expectations, leading to a notable decrease in rate hike expectations. In July, ADP employment increased by only 44,000, far below the expected 70,000 and also lower than the previous value of 95,000. As a "mini non-farm" report, the ADP data is often seen as a leading indicator for non-farm payrolls, and its worse-than-expected performance has heightened the market's outlook for cooling employment. The CME FedWatch Tool indicates that the probability of the Federal Reserve maintaining interest rates in September has risen to 45.6%, while the likelihood of a rate hike has dropped to 54.4%. The U.S. dollar index and U.S. Treasury yields plunged simultaneously, significantly boosting gold and silver prices from a valuation perspective. The short-term trend appears strong; however, with the rate hike cycle coming to an end, it may not be wise to be overly optimistic about the mid-term outlook for precious metals.