天风证券：非农下修+人事变动，黄金迎金融、货币属性共振

Group 1 - The core viewpoint is that three significant events in early August are expected to drive gold prices upward [1] Group 2 - The first event is the July non-farm payrolls, which added 73,000 jobs, falling short of the expected 110,000, with revisions to May and June data down by a total of 258,000 jobs [1] - The second event is the resignation announcement of one of the most hawkish Federal Reserve governors, Quarles, set for August 8, which is months ahead of his term's end [1] - The third event involves President Trump ordering the dismissal of the Labor Statistics Bureau chief, alleging manipulation of employment data [1] Group 3 - According to CME Group data, the probability of a Federal Reserve rate cut in September surged from under 40% to nearly 90% [1] - Trump's increased control over monetary policy raises questions about the credibility of future U.S. economic data and the independence of monetary policy [1] - The underlying logic for gold's long-term bullish trend remains strong, with continued optimism for the gold sector [1]