Core Viewpoint - The Federal Reserve's decision to cut interest rates by 25 basis points to a range of 4%-4.25% aligns with market expectations, but the latest dot plot and Powell's statements have dampened expectations for rapid and significant rate cuts [1][3] Group 1: Federal Reserve's Rate Decision - This marks the first rate cut by the Federal Reserve this year, following a pause in policy adjustments since December of the previous year [3] - The dot plot indicates a mixed outlook among officials, with one member advocating for no cuts this year, while others suggest varying degrees of cuts, with a consensus hinting at three total cuts of 25 basis points each [3] Group 2: Market Reactions - Following the rate decision, gold prices initially surged to $3707 per ounce, reaching a historical high, before experiencing a decline of nearly $50, settling at $3645.18 per ounce [1] - The market's reaction to the Fed's decision reflects uncertainty, with analysts noting that Powell's characterization of the cut as a "risk management" move led to profit-taking [4] Group 3: Future Expectations - Traders are currently pricing in a 90% probability of another 25 basis point cut in the upcoming October meeting, up from 74.3% the previous day [4] - Analysts predict that gold prices may experience further corrections, potentially dropping to around $3600 per ounce in the short term [4] Group 4: Gold Market Dynamics - The recent decline in gold prices is seen as a typical "buy the rumor, sell the news" reaction, but ongoing geopolitical tensions and economic uncertainties may attract new buyers [5] - Notably, gold prices have nearly doubled over the past two years, with a year-to-date increase of nearly 40%, indicating strong demand driven by central bank purchases and diversification away from the dollar [5]

Group 1 - The SEC has approved three exchanges to expedite the listing process for exchange-traded products (ETPs) that hold physical commodities like Bitcoin and gold, aiming to enhance investor choice and promote innovation [1][2] - The U.S. Congress is advancing a Bitcoin Strategic Reserve bill, proposing the purchase of 1 million Bitcoins over the next five years, positioning Bitcoin alongside gold as a national strategic reserve asset [1][2] - The SEC has approved a universal listing standard for commodity-based trust shares, which includes digital assets, allowing eligible products to be listed without individual rule change applications [2][5] Group 2 - The New York State Department of Financial Services (NYDFS) has issued guidance requiring banks to adopt blockchain analysis tools to combat illegal activities such as money laundering and terrorist financing [4][5] - The UK's Financial Conduct Authority (FCA) plans to include crypto asset companies in a comprehensive regulatory framework while exempting some traditional financial rules to better suit the crypto industry's characteristics [3] - Standard Chartered Bank, Qatar National Bank, and DMZ Finance have launched a regulated tokenized money market fund in the Dubai International Financial Centre [3] Group 3 - The supply of Bitcoin on centralized exchanges has reached a seven-year low, indicating significant institutional investment in Bitcoin [4] - Gemini's stock has fallen below its IPO price of $28, with a current market capitalization of $2.9 billion, following a significant drop in share price shortly after its market debut [4] - Bitfinex analysts report that Bitcoin has formed a new resistance level around $116,000, with potential catalysts needed for a price increase [5] Group 4 - The total open interest in BNB contracts has approached $2 billion, marking a new historical high, with Binance leading in contract volume [6]

"历史不会简单重复，但常惊人相似。"这句箴言在观察"白银与标普500指数总回报（SPXTR）的比率"时尤为贴切——这一鲜少 被关注的指标，或许正释放重大信号。 若留心观察，投资者会发现图表上正上演诡异一幕：一个长期技术形态正在重现，与2000年代初白银开启传奇牛市前的走势高 度吻合。 彼时，几乎无人预见行情将至。形态早已成型，默默积蓄力量，但多数投资者因过度关注股市而错失信号。如今，这一比率再 次发出"低语"。 核心问题在于：这次你会倾听吗？ 白银与标普500指数总回报比率 "白银/SPXTR比率"简洁直接地回答一个问题：谁在领跑——贵金属还是美国股市？ 当比率下降时，白银表现落后。这种情况通常出现在增长驱动的牛市中，此时投资者更青睐股息、盈利和风险资产，而非无息 贵金属，股市就会占据主导地位。 但当比率开始回升（尤其是在形成长期底部或收复关键移动平均线后），往往预示更大变局：这不仅是技术性反弹，更是市场 悄悄从股市转向白银等防御性硬资产的信号。重要的是，由于SPXTR包含股息再投资，股市在这一对比中本就具备结构性优 势。因此，比率要上涨，白银必须展现真正的强势，而非单纯的稳定。 从这个角度看，白银/SPXT ...

Group 1 - The Federal Reserve lowered interest rates by 25 basis points, aligning with market expectations, with 11 out of 12 voting members supporting this decision [1] - Fed Chairman Powell emphasized that the rate cut was a "risk management" move, balancing "sticky inflation" and "employment downside risks," asserting that political pressure does not influence decisions [1] - The updated dot plot indicates that most officials expect an additional 50 basis points cut in 2025 and a further 25 basis points in 2026, suggesting a long-term easing direction that supports precious metals [1] Group 2 - Following the rate cut, gold and silver prices initially surged but later retreated due to Powell's cautious remarks, with gold dropping to $3689.4 per ounce and silver to $41.79 per ounce [2] - The short-term pullback is attributed to the market having partially priced in the rate cut expectations and profit-taking by bulls, but the long-term bullish outlook for precious metals remains intact [2] - Key technical support levels to watch are $3550 per ounce for gold and $40 per ounce for silver; as long as prices remain above these levels, the short-term upward trend is expected to continue [2]

Group 1 - Deutsche Bank predicts that due to Federal Reserve rate cuts and central bank gold purchases, gold will continue its record-breaking rally, with an average price of $4,000 per ounce by 2026, up from a previous estimate of $3,700 [1] - The report indicates that central bank gold purchases could reach 900 tons next year, primarily from China, and that the likelihood of further gold price increases outweighs the possibility of a correction to fair value [1][2] - Gold prices have surged approximately 40% this year, recently surpassing the inflation-adjusted record high set in 1980, driven by ongoing economic and geopolitical uncertainties [1] Group 2 - Concerns regarding U.S. President Trump's recent attacks on the Federal Reserve have heightened market anxiety, with expectations for a more dovish monetary policy supporting non-yielding gold [2] - Deutsche Bank's latest forecasts do not account for potential risks to Federal Reserve independence, although changes in the Federal Open Market Committee (FOMC) membership could introduce uncertainty in policy responses [2] - Goldman Sachs indicated that if the Federal Reserve's independence is compromised, gold prices could potentially soar to nearly $5,000 per ounce with even a small shift in investor holdings from U.S. Treasuries to gold [2] Group 3 - Deutsche Bank raised its 2026 silver price target from $40 to $45 per ounce, citing a fifth consecutive year of physical supply shortages for silver [3]

汇丰： 比亚迪 目标价由143.00元下调至131.00元。 ...

Group 1 - The core viewpoint of the articles indicates that the Chinese gold market experienced a decline in physical gold and ETF sales in August, as investors shifted focus to the rising stock market, despite a rebound in jewelry demand and increased import volumes [1][4][5] - Gold prices saw a solid increase in August, supported by rising inflation expectations, strengthened Fed rate cut expectations, and a weakening dollar, alongside ongoing geopolitical and trade risks [1][10] - Wholesale gold demand fell by 9 tons month-on-month to 85 tons in August, marking a decrease of 17 tons compared to the same month last year, representing the weakest August performance since 2010 [1][4] Group 2 - The decline in wholesale gold demand in August contradicted seasonal trends, as demand typically rebounds towards the end of the third quarter [4] - Investors' attention shifted to the strong stock market, with the CSI 300 index soaring 10% in August, the strongest monthly gain since September 2024, which suppressed gold ETF demand [5][7] - The Shanghai Futures Exchange (SHFE) gold futures trading volume also decreased by 26% month-on-month to an average of 231 tons, although still above the five-year average of 216 tons [7] Group 3 - Chinese investors continued to sell gold ETFs, with a capital outflow of 6 billion yuan (approximately 834 million USD) in August, leading to a 2% decrease in total assets under management for Chinese gold ETFs, now at 148 billion yuan (approximately 21 billion USD) [5][10] - The People's Bank of China continued to increase its gold reserves for the tenth consecutive month, with reserves reaching 74.02 million ounces (approximately 2,098 tons) by the end of August, an increase of 6,000 ounces (approximately 1.7 tons) from July [10] - Despite recent demand slowdown, the World Gold Council anticipates a rebound in gold investment demand amid new price increases, with jewelry retailers likely to stock up for the upcoming National Day holiday in early October [10]

男生普通话版 下载mp3 女声普通话版 下载mp3 粤语版 下载mp3 西南方言版 下载mp3 东北话版 下载mp3 上海话版 下载mp3 今日优选 美联储宣布降息25个基点，点阵图中值暗示今年将累计降息3次 沙特与巴基斯坦签署共同防御协议 财政部：1-8月证券交易印花税收入同比增长81.7% 李家超：推动香港成为国际黄金交易市场，拓展黄金仓储 市场盘点 鲍威尔：劳动力市场风险偏向下行，此次降息可理解为风险管理式降息 美国财长贝森特曾同时列两处房产为"主要居所"与库克遭罢免理由一致 加拿大央行降息25个基点，从政策声明中删除了降息的前瞻性指引 欧盟宣布对以色列的制裁措施 周三，港股高开高走，科网股带动恒生科技指数走强，百度盘中一度涨近20%，恒指收涨1.78%，报26908.39点。恒生科技指数收涨4.22%，报6334.24点。截 至收盘，恒指大市成交额3602.84亿港元。盘面上，职业教育板块走高，半导体股强势，内房股、航空股回暖；黄金股跌幅居前，禽畜肉类板块回调。个股 方面，花样年控股(01777.HK)涨27%，商汤(00020.HK)涨15.8%，百度(09888.HK)涨15.7%，蔚来汽车(09 ...

Core Viewpoint - The Federal Reserve has lowered interest rates by 25 basis points to a range of 4.00%-4.25%, with Chairman Powell indicating this is a risk management move amid high inflation and weakening employment, seeking a balance between easing and caution [1] FOMC Statement and Economic Outlook - The rate cut marks a resumption of the easing cycle that was paused since December of the previous year, with some officials suggesting a more aggressive cut of 50 basis points [2] - The dot plot indicates two more rate cuts are expected this year, with one official predicting a total reduction of 150 basis points by year-end, while another believes no cuts should occur this year [2] - The median unemployment rate forecast for the next two years has been revised down to 4.4% and 4.3%, reflecting increased downside risks in the labor market [2] Inflation Outlook - Inflation has risen and remains at a "slightly high" level, with the PCE and core PCE inflation expectations for the end of 2026 adjusted upward to 2.6% [3] Economic Growth Outlook - GDP growth forecasts for the end of 2025, 2026, and 2027 have been raised to 1.6%, 1.8%, and 1.9% respectively, with a forecast of 1.8% for the end of 2028 [3] Powell's Press Conference Highlights - The rate cut is characterized as a risk management decision, with future rate adjustments to be made based on data, emphasizing the rising downside risks in the labor market [4] - Recent inflation trends show an increase, with August's overall PCE expected to rise by 2.7% year-on-year and core PCE up by 2.9% compared to the previous year, indicating upward inflation risks [4] - Economic growth is slowing, primarily due to reduced consumer spending, with the pass-through of tariffs to consumers occurring but less than anticipated [4] - The Fed's commitment to its independence is reaffirmed, with Powell addressing the influence of individual voting members on rate decisions [4] - Market reactions included significant fluctuations in gold prices and movements in the dollar and U.S. Treasury yields following the rate decision and Powell's comments [4] Latest Expectations - As of the report, interest rate futures are pricing in a potential reduction of 45 basis points this year and approximately 72 basis points next year, with a 13.3% probability of the Fed remaining unchanged in October [5]

周四，美联储将向投资者传达一个"三部曲式"的信息：官员们在多大程度上重新调整其前景以反映疲软 的就业市场？美联储正变得多么分裂？理事米兰的到来是否给美联储带来了党派倾向？ 尽管美联储想要避开政治纷争，但它还是被稳步地拖入了华盛顿两极分化的对话中。 共和党人指责拜登政府的任命者将美联储推向了气候变化和种族平等等不适当的领域，并在2024年总统 竞选期间通过降息拉选票。 民主党人则指责美国总统特朗普的施压运动，包括试图解雇前总统拜登任命的理事库克、迫使美联储主 席鲍威尔下台的举动以及将米兰安插进美联储。 库克于2022年成为美联储理事，而米兰的确认投票以一票的优势中通过。 利率预计将下降 美联储将于北京时间周四凌晨两点公布利率决议，市场普遍预计该央行将进行自去年12月以来的首次降 息，幅度为25个基点。当时特朗普的当选曾引发担忧，即他的进口关税可能会重新点燃通胀并减缓经济 增长。 在特朗普重返白宫之前，美联储官员曾预计通胀将继续下降至2%的目标，这将允许一系列稳定的降 息，使借贷成本朝向一个更中性的水平。 自那时以来，利率一直稳定在这一区间，而通胀则有所回升。 然而，就业市场似乎已经减弱，更多的美联储官员对需要通 ...