Shen Zhen Shang Bao·2025-07-31 18:04Core Viewpoint - International gold prices experienced a significant decline, primarily influenced by the U.S. Federal Reserve's decision to maintain the federal funds rate, which dampened expectations for interest rate cuts and weakened gold priced in dollars [1][2] Group 1: Market Performance - On July 30, international gold prices fell sharply, reaching a low of $3,268 per ounce, closing down $51.66 or 1.55% at $3,274.92 per ounce [1] - A-shares and Hong Kong-listed gold stocks also dropped, with companies like Shanjin International, Hunan Gold, and Zijin Mining seeing declines of over 3%, and Tongguan Gold falling by 7.65% [1] - As of the following day, gold prices slightly rebounded to around $3,300 per ounce, but A-shares and Hong Kong gold stocks continued to decline [1] Group 2: Economic Analysis - The recent decline in international gold prices is attributed to reduced political and economic uncertainties following tariff negotiations between the U.S. and major trading partners, leading to a recovery in investor risk appetite [2] - The dollar index rebounded, putting pressure on non-dollar assets like gold, while global stock markets rose, diverting funds away from the gold market [2] - Despite the recent downturn, gold has maintained a significant year-to-date increase, indicating that high-level fluctuations are normal [2] Group 3: Future Outlook - The long-term outlook for gold remains positive due to significant changes in the global political and economic landscape, which are expected to continue [2] - Gold is recognized as a non-sovereign asset with increasing appeal for both official and private investors seeking safe-haven investments [2] - The current bull market in A-shares suggests that gold stocks are under less valuation pressure, and there is potential for future price increases in gold, making it advisable for investors to consider long-term positions rather than short-term trading [2]