贵金属日报-20250508

Report Industry Investment Rating - Gold: Positive (Three stars indicating a clearer uptrend and current appropriate investment opportunities) [1] - Silver: Positive (Three stars indicating a clearer uptrend and current appropriate investment opportunities) [1] Core View - The precious metals market experienced a volatile day with an initial rise followed by a decline. The Fed maintained interest rates for the third consecutive time, highlighting increased risks of inflation and rising unemployment. Powell provided no new information and is inclined to wait for more economic data before making further interest - rate adjustments. The long - term upward trend of gold prices is supported by the US dollar credit crisis and global political and economic uncertainties. However, trade negotiations and geopolitical disputes cause significant fluctuations in gold prices at historical highs. A strategy of buying on dips is recommended [1]. Summary by Related Information Central Bank Gold Reserves - China's central bank reported a gold reserve of 73.77 million ounces at the end of April, an increase of 70,000 ounces from the previous month, marking the sixth consecutive month of gold purchases [2]. Geopolitical Tensions - In the India - Pakistan situation, India will conduct large - scale air combat exercises near the international border in Rajasthan. India warns of a response if Pakistan retaliates. Israel supports India's right to self - defense, while Pakistan's defense minister attempts to avoid a full - scale war [2]. Tariff Issues - The EU's trade chief will announce preparations for counter - measures against US tariffs on Thursday. The EU threatens to impose tariffs on Boeing and US cars if trade negotiations fail. Trump is unaware of tariff exemptions for baby products, and the word "tariff" was mentioned over 20 times in Powell's press conference [2]