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Group 1 - The core viewpoint of the articles revolves around the impact of U.S. tariff policies under President Trump, which have led to increased market uncertainty and a rise in gold prices as a safe-haven asset [1][2] - Trump signed an executive order extending the delay of "reciprocal tariffs" from July 9 to August 1, affecting goods from at least 14 countries, with tariffs ranging from 25% to 40% [1][2] - The uncertainty surrounding tariff increases is causing concerns about rising supply chain costs in the U.S., potentially leading to "stagflation," where economic growth slows while prices continue to rise [2] Group 2 - As of June 30, China's gold reserves increased to 73.9 million ounces (approximately 2,298.55 tons), marking the eighth consecutive month of gold accumulation [2] - The World Gold Council's survey indicated that 95% of central banks expect to continue increasing their gold reserves in the next 12 months, the highest percentage since the survey began in 2019 [4] - The recent U.S. tax and spending bill, known as the "One Big Beautiful Bill Act," is expected to increase U.S. debt by $4.1 trillion over the next decade, raising concerns about fiscal sustainability [10][11] Group 3 - The Federal Reserve's decision to maintain interest rates has led to market speculation about potential rate cuts later in the year, with expectations for two cuts by the end of 2025 [11][12] - The ongoing uncertainty in the U.S. economic environment, including the impact of tariffs and fiscal expansion, is complicating the Fed's decision-making process regarding interest rates [13][14] - Central banks' continued accumulation of gold is seen as a significant support for gold prices, especially in the context of a weakening U.S. dollar due to fiscal policies [14]