黄金亚盘震荡微跌，市场继续空单布局方案

Core Viewpoint - The gold market is experiencing fluctuations due to multiple factors, including geopolitical tensions in the Middle East, upcoming U.S. inflation data, and the impact of tariff policies introduced by the Trump administration [1][3][4] Group 1: Current Market Conditions - Spot gold is currently trading around $3,323.28 per ounce, showing slight declines in early Asian trading [1] - On Thursday, spot gold closed at $3,327.60 per ounce, with a minor drop of approximately 0.13% [3] - The recent easing of geopolitical tensions in the Middle East has reduced gold's appeal as a safe-haven asset, contributing to a price decline in recent trading sessions [3][4] Group 2: Influencing Factors - Investors are closely monitoring the upcoming U.S. Personal Consumption Expenditures (PCE) price index data, which is seen as a key indicator for the Federal Reserve's monetary policy direction [3][4] - Tariff policies may lead to higher inflation expectations, potentially delaying interest rate cuts by the Federal Reserve, which could exert downward pressure on gold prices [3][4] - Despite the pressures, there is a prevailing expectation that the Federal Reserve may initiate rate cuts in September, with a total of 50 basis points expected by the end of the year, which could support gold prices in a low-interest-rate environment [3][4] Group 3: Future Outlook - The upcoming PCE data will be a critical driver for gold prices; lower-than-expected inflation could increase the likelihood of rate cuts, supporting gold, while higher-than-expected inflation may lead to further delays in rate cuts, putting pressure on gold [4] - Long-term factors such as a low-interest-rate environment, geopolitical uncertainties, and potential dollar weakness provide structural support for gold [4] - The speculative interest in platinum and palladium may divert funds away from the gold market, necessitating close monitoring of capital flows within the precious metals sector [4]