机构看金市：8月13日

Group 1 - The market's risk appetite is increasing, leading to expectations that silver prices will continue to outperform gold prices [1] - The U.S. July CPI data has solidified market expectations for a Fed rate cut in September, while global trade optimism boosts investor confidence [1][2] - The long-term bullish trend for gold remains intact despite current market fluctuations, supported by ongoing geopolitical risks and central bank purchases [2][3] Group 2 - ING's commodity strategist predicts that gold prices will average $3,400 per ounce in Q3 and $3,450 in Q4, higher than previous forecasts [3] - The recent U.S. CPI data aligns with expectations, increasing the implied probability of a Fed rate cut in September, which supports gold prices [3] - Ongoing trade tensions and geopolitical risks continue to provide a supportive environment for gold prices, despite potential limitations on price increases from trade developments [3]