山海：CPI数据影响不大，基本确定黄金是震荡表现！

Core Insights - The Consumer Price Index (CPI) for July in the U.S. rose by 0.2% month-on-month and 2.7% year-on-year, indicating a moderation in inflationary pressures, which aligns with market expectations [2] - The core CPI increased by 0.3% month-on-month and reached a year-on-year rate of 3.1%, marking the largest increase since January of this year [2] - Following the CPI data, the market's expectation for a rate cut during the upcoming Federal Reserve meeting has risen from 86% to 94% [2] Group 1: Gold Market Analysis - The CPI data has minimal impact on gold prices, with expectations for the market to remain in a consolidation phase for the remainder of the week [4] - Key price levels for gold are identified: a support level at 3330 and a resistance level at 3360, with potential movements towards 3375 if the upper level is breached [4] - The overall sentiment indicates a weak bearish trend for gold, with a lack of strong upward momentum despite favorable CPI data [4] Group 2: Domestic Gold and Silver Trends - Domestic gold prices, such as the Shanghai Gold (2512 contract), are expected to maintain support levels around 778, with a target of 785 for short-term profits [5] - International silver prices have shown resilience around the 37.5 support level, with a rebound towards 38, and expectations to reach 38.5 in the near term [5] - The Shanghai Silver (2512 contract) is currently in a bullish trend, with expectations to see price levels around 9350/9400, focusing on short-term profit accumulation [5] Group 3: Oil Market Overview - International crude oil prices are experiencing low-level fluctuations, with a current closing price around 63, indicating a lack of upward momentum [6] - The market environment for oil is described as weak, with expectations for a potential rebound if favorable news emerges [6] - Domestic fuel oil prices are also fluctuating, with a recommendation to maintain bullish positions while monitoring market changes [6]