贵金属日报-20250806

Group 1: Report Investment Ratings - Gold investment rating: ★★★, indicating a clearer long - trend and a relatively appropriate investment opportunity currently [1] - Silver investment rating: ★★★, indicating a clearer long - trend and a relatively appropriate investment opportunity currently [1] Group 2: Core Views - The decline of the US non - manufacturing PMI in July, concerns about the Fed's independence, the US economic outlook, and rising expectations of interest rate cuts have weakened the US dollar, causing international gold prices to test the resistance at the high of the operating range in the past three months. Amid the repeated market sentiment due to the continuous verification of the US economy, the idea of buying on dips is maintained in the precious metals' oscillating trend [1] Group 3: Summary of Related Information US Economic Data - The US non - manufacturing PMI in July dropped from 50.8 in June to 50.1, lower than the expected 51.5. The July ISM new orders index decreased from 51.3 in June to 50.3, and export orders shrank for the fourth time in five months [1][2] - The US trade balance in June was -$60.2 billion, the smallest deficit since September 2023 [1] Tariff Information - Trump announced that drug and chip tariffs would be announced in the next week, with drug tariffs reaching up to 250%. Indian tariffs would be significantly increased within 24 hours, and a 35% tariff would be imposed if the EU fails to fulfill its investment obligations to the US [1] Political News - Trump believes that Vance is most likely to be the next presidential candidate, and Secretary of State Rubio would be helpful if he works with Vance. A new Fed chairman may be announced soon, with four candidates, and Bessent hopes to stay in the Treasury [2]