贵金属日报-20250811

Report Industry Investment Rating - Gold: ★★★, indicating a clearer long - trend and a relatively appropriate investment opportunity currently [1] - Silver: ★★★, indicating a clearer long - trend and a relatively appropriate investment opportunity currently [1] Core Viewpoints - Today, precious metals declined. A suspected乌龙 event last week caused the US - session gold to hit a record high briefly, with a large premium over London gold. Later, the premium declined after a White House official called relevant reports "false information" [1] - The official implementation of US reciprocal tariffs, some countries' tariff increases, concerns about the US economic outlook, and rising expectations of interest rate cuts have pushed the international gold price to test the important resistance at the upper end of the trading range in the past three months [1] - Interest rate futures are pricing in a Fed rate cut in September, with 2 - 3 rate cuts within the year. Some Fed officials believe it's time to cut rates [1] - Market sentiment may fluctuate as the US economy is continuously verified. If the scenario of significant economic weakness becomes clearer, the upside space for gold may reopen; if the economy lands relatively smoothly, be cautious at high levels [1] - Maintain the idea of buying on dips during the precious metals' oscillating trend. This week, focus on changes in China - US trade policies, the meeting between US and Russian leaders, and the release of US inflation data [1] Other Key Points - Trump and Putin will meet in Alaska on August 15. Trump mentioned "territory exchange" in the Russia - Ukraine peace agreement, but Zelensky refused territorial concessions. The White House is considering inviting Zelensky to Alaska. US Vice - President Vance said efforts are being made to determine the date of a Putin - Zelensky meeting, but a Russia - Ukraine leaders' meeting before the "Trump - Putin meeting" is not constructive [2] - Fed Governor Bowman supports starting rate cuts in September and cutting rates three times within the year [2] - Netanyahu said Israel "has no choice" but to complete the task and defeat Hamas. The next - stage military operations of the Israeli army will focus on two locations still under Hamas control. European members of the UN Security Council strongly condemned Israel's decision to further expand military operations, and Israeli hard - line Finance Minister Smotrich also criticized it as a "stupid" compromise measure [2]