宝城期货贵金属有色早报-20250814

Group 1: Report Industry Investment Ratings - No information provided Group 2: Core Views of the Report - Gold is expected to decline in the short - term, with a short - term bearish outlook due to the easing of Sino - US trade relations and overall global macro warming, despite support from the weakening US dollar and rising Fed rate - cut expectations [1][3] - Copper is expected to rise in the short - term, with a short - term bullish outlook as the positive macro environment from the Sino - US Stockholm economic and trade talks outweighs the slightly negative industry situation during the off - season [1][5] Group 3: Summaries by Related Catalogs Gold - Short - term view: Decline [1] - Medium - term view: Oscillation [1] - Intraday view: Oscillation with a weak bias [1] - Core logic: The US economy underperformed expectations in July, with CPI lower than expected, leading to rising Fed rate - cut expectations. The US dollar index fell below 98, supporting the gold price. However, the overall global macro warming exerts pressure on the gold price. Technically, focus on the 3400 mark of New York gold for the battle between bulls and bears [3] Copper - Short - term view: Rise [1] - Medium - term view: Oscillation [1] - Intraday view: Oscillation with a strong bias [1] - Core logic: The joint statement of the Sino - US Stockholm economic and trade talks on August 12, 2025, created a positive macro environment. Although it is the industry off - season with a slight increase in inventory, the positive macro factors are expected to drive the copper price to run strongly. Technically, focus on the technical support at the 79,000 mark [5]