#美国贸易赤字扩大 On the evening of January 15, 2026, at 21:30, the United States released a batch of economic data all at once, catching the market off guard—precious metals investors are facing more difficulties again.

First, let's look at the initial jobless claims data. The previous value was 207,000, with most expectations rising to 215,000, but the actual reported figure was only 198,000. What does this mean? The unemployment population is decreasing, and the economy's resilience is stronger than expected. For precious metals, this is a clear bearish signal—if the economy isn't weak, no one will seek refuge in safe-haven assets (4-star attention).

The New York Fed Manufacturing Index is even more outrageous. Last month, it was struggling in the contraction zone at -3.7. Expectations hoped it would return to near positive territory, but instead, it jumped directly to 7.7. Manufacturing suddenly picked up, and precious metals were pressured again (3-star attention).

The Philadelphia Fed also didn't sit idle. The previous value of -8.8 was already quite weak, with expectations around -1, but the actual figure of 12.6 shot up directly. The manufacturing rebound exceeded expectations, continuing to put pressure on precious metals (3-star attention).

Finally, let's look at the November import price index month-over-month. The expectation was a decrease of 0.1%, but the actual increase was 0.4%. Import costs are rising, indicating that inflationary pressures haven't fully dissipated. Theoretically, this should be positive for precious metals, but in the context of overall strong economic data, this inflation signal doesn't stand out as much (3-star attention).

A night of data bombardment presents one clear picture: the US economy remains resilient, with low unemployment, manufacturing recovery, and although inflation still has some warmth, it is generally under control. In such an environment, precious metals face significant pressure.