贵金属日评：欧盟对美国贸易反制措施暂停6个月美联储下半年或降息三次-20250805

Report Industry Investment Rating No relevant content provided. Core Viewpoints - The weakening US job market has increased expectations of Fed rate cuts, and with global central banks continuing to buy gold, precious metal prices are likely to rise rather than fall. Investors are advised to buy on price dips. Specific support and resistance levels are provided for London gold, Shanghai gold, London silver, and Shanghai silver [1]. Summary by Relevant Catalogs Market Data - Shanghai Gold: The closing price was 775.55 yuan/g, with a change of 8.37 yuan compared to the previous day. The trading volume was 47,492, and the open interest was 206,958. The inventory was 35,889 (in ten - gram units) [1]. - Shanghai Silver: The closing price was 111 yuan/kg. The trading volume of the futures active contract was - 78,029, and the open interest was 371,051. The inventory was 1,174,273 (in ten - gram units) [1]. - COMEX Gold Futures: The closing price was 3,428.60 dollars/ounce, with a change of 12.60 dollars compared to the previous day. The trading volume was 132,941, and the open interest was 334,342. The inventory was 37,762,393.92 (in troy ounces) [1]. - COMEX Silver Futures: The closing price was 38.33 dollars/ounce, with a change of 0.34 dollars compared to the previous day. The trading volume was 44,731, and the open interest was 109,684. The inventory was 506,602,108.72 (in troy ounces) [1]. News and Information - Gold: The EU has suspended trade counter - measures against the US for six months. Switzerland is facing a negotiation "race" to reduce a 39% tariff, and Swiss gold trade has become the focus of Trump's tariff policy. Trump will choose a new Fed governor in the "next few days" and announce a new Bureau of Labor Statistics director in three to four days [1]. - Macroeconomic Policies: The Fed maintained the federal funds rate in July. The US economy shows "stagflation" characteristics, increasing the expectation of Fed rate cuts in September, October, and December. The European Central Bank may cut rates once by the end of 2025. The Bank of England may cut rates 2 - 3 times by the end of 2025, and the Bank of Japan may still raise rates by the end of 2025 [1].