金价触底回升，黄金ETF华夏（518850）近5日吸金超3.2亿丨黄金早参

Core Viewpoint - Market concerns over inflation pressures and escalating trade frictions have led to fluctuations in gold prices, with COMEX gold futures closing at $3342.30 per ounce, down 0.31% on the day, but up 1.05% for July [1] Group 1: Market Performance - Gold prices experienced a daily fluctuation exceeding $42, indicating volatility in the market [1] - The China Gold ETF (518850) fell by 0.42%, with over 320 million yuan in capital inflow over the past five days [1] - The Gold Stock ETF (159562) decreased by 2.93%, with over 40 million yuan in capital inflow in the last four days [1] Group 2: Trade and Economic Policy - The U.S. is set to reinstate "reciprocal tariffs" on August 1, with ongoing negotiations with several economies [1] - Initial agreements have been reached with the UK, Vietnam, the Philippines, Indonesia, Japan, the EU, and South Korea [1] - Despite President Trump's statement against further delays, Treasury Secretary Mnuchin emphasized that the negotiation window remains open even with the tariff increase [1] Group 3: Future Outlook - Baocheng Futures analysis suggests that after the market reacted to the negative impact of the interest rate meeting, there was a rebound, and domestic gold prices remained stable due to exchange rate influences [1] - The market is advised to monitor the Federal Reserve's stance and the upcoming non-farm payroll data, with a long-term perspective indicating that gold may still be a worthwhile investment [1]