巨富金业：数据疲软支撑金价，关税风险限制涨幅

Group 1 - Spot gold traded around $3,370 per ounce, rising nearly 1% on June 4 due to weak U.S. data and a softening dollar, reaching a high of $3,384.71 [1] - Domestic gold prices reported at ¥781.76 per gram, with a basic gold price of ¥778.1 per gram and retail price for investment gold bars at ¥794.1 per gram [1] Group 2 - Weak U.S. economic data has strengthened the demand for safe-haven assets, with the ISM non-manufacturing PMI falling to 49.9 in May, marking the first drop below the neutral line since June 2024, and the ADP employment increase at only 37,000, the lowest in over two years [3] - The uncertainty surrounding tariff policies, with the Trump administration doubling steel and aluminum tariffs to 50%, is expected to increase inflation concerns and enhance gold's appeal as an anti-inflation asset [5][6] - Goldman Sachs has raised its year-end gold price target to $3,700, emphasizing the combined impact of tariff uncertainty and recession risks [6] Group 3 - Technical analysis indicates that gold prices closed at $3,372.60, maintaining above the 50-day moving average, with significant resistance at the $3,400 level [7] - Silver prices closed at $34.489, forming a doji pattern, with strong resistance at $34.80 and support from the 20-day moving average [11]