博时基金王祥：国际黄金再现冲高回落，关注美国基本面和降息预期

Group 1 - The core viewpoint of the articles highlights the fluctuations in the gold market, driven by the weak US dollar and recent trade agreements between the US and Japan, which have influenced risk sentiment [1][2][3] - The US and Japan reached a trade agreement imposing a 15% tariff on Japanese imports, lower than the previously threatened 25% [1][2] - The European Union also announced a 15% baseline tariff on US imports, with some products potentially exempted, indicating a reduction in trade uncertainty [2] Group 2 - The recent decline in US durable goods orders and existing home sales suggests a slowdown in the US economy, with June durable goods orders dropping by 9.3%, the largest decline since April 2020 [2] - Core durable goods orders unexpectedly fell by 0.7%, contrary to market expectations of a 0.1% increase, indicating potential economic weakness [2] - The National Association of Realtors reported a 2.7% decrease in existing home sales in June, reaching an annualized rate of 3.93 million units, the lowest in nine months [2] Group 3 - President Trump visited the Federal Reserve and pressured Chairman Powell regarding interest rate cuts, amidst ongoing disputes over the cost of the Fed's renovation project [3] - The pressure on Powell is expected to increase, potentially leading to a marginal easing of monetary policy, which could support gold prices in the near future [2][3] - The BoShi Gold ETF and its linked funds provide investors with a way to invest in gold through Shanghai Gold Exchange contracts, tracking the performance of gold prices in RMB [3]