华安基金：美国通胀延续上行，本周关注美联储主席发言

Group 1 - Gold prices experienced a pullback last week, with London spot gold closing at $3,335 per ounce (down 1.9% week-on-week) and domestic AU9999 gold at 774 yuan per gram (down 1.2% week-on-week) [1] - U.S. inflation continues to rise, with July CPI showing a month-on-month increase of 0.2% and a year-on-year increase of 2.7%, slightly below the expected 2.8%. Core CPI, excluding food and energy, rose 0.3% month-on-month and 3.1% year-on-year, reaching a new high since February [1] - The upcoming Jackson Hole meeting from August 21 to 23 will be crucial, with a focus on Federal Reserve Chairman Powell's speech, which may pave the way for interest rate cuts in September [1] Group 2 - The potential for the Federal Reserve to restart interest rate cuts could benefit gold, especially given the current high interest rates and debt levels leading to increased costs for U.S. government debt [2] - The upcoming week will see key signals for gold ETFs, including Powell's speech at the Jackson Hole meeting, results from the U.S. semiconductor and pharmaceutical 232 investigations, and July inflation data [2]