机构看金市：7月18日

Group 1 - The long-term bullish trend for precious metals is expected to continue due to complex global trade and financial environments, with significant uncertainty surrounding tariffs and a trend towards "de-dollarization" benefiting gold's value as a hedge [1] - The recent increase in U.S. retail sales by 0.6% in June, surpassing the previous month's -0.9% and market expectations of 0.1%, indicates economic resilience, which may suppress gold prices but still shows resistance [2] - The uncertainty in U.S. economic policies remains high, with the index at historical peaks, impacting global markets and increasing demand for precious metals as a strategic asset [2] Group 2 - The recent rise in the U.S. dollar and bond yields has led to some weakness in the gold market, but strong buying interest has emerged during price dips, indicating smart money positioning [3] - The divergence between rising U.S. Treasury yields and gold prices suggests significant market disagreement regarding the Federal Reserve's policy direction [3]