宝城期货贵金属有色早报-20250811

Report Summary 1) Report Industry Investment Rating No relevant content provided. 2) Core Viewpoints of the Report - Gold is expected to show short - term strength due to the weakening US economy and rising market risk - aversion demand [1]. - Copper is also seen as having short - term strength as the domestic market atmosphere warms up and copper prices stabilize and rebound [1]. 3) Summary by Related Catalogs Gold - Price Movement: On Friday night, New York gold rose and then fell, with the main contract price dropping from around $3500 to around $3450. The price difference between New York gold and London gold once widened to $100 [3]. - Core Logic: The US has added 1 - kilogram and 100 - ounce gold bars to the tariff - imposed category, causing the New York gold market to differ from London and Shanghai. Short - term New York gold is still in the oscillation range since the second quarter, and attention should be paid to the upper - edge pressure of the range [3]. - Views: Short - term: rising; Medium - term: oscillating; Intraday: oscillating and slightly stronger; Overall: short - term strength [1][3]. Copper - Price Movement: Last week, copper prices stabilized and rebounded, with a significant upward movement on Friday night [4]. - Core Logic: The increasing expectation of the Fed's interest - rate cut and the weakening US dollar index are positive for copper prices, but the risk of overseas recession trading needs to be watched. The domestic market atmosphere has warmed up, which is conducive to the stabilization and rebound of copper prices. In the off - season of the industry, high upstream production, weak downstream demand, and copper inventory accumulation are negative for copper prices. Overall, macro factors are positive and industrial factors are negative, and copper prices are expected to remain strong [4]. - Views: Short - term: rising; Medium - term: oscillating; Intraday: oscillating and slightly stronger; Overall: short - term strength [1][4].