五矿期货贵金属日报-20250814

1. Market Performance - Shanghai gold (Au) rose 0.11% to 777.10 yuan/gram, and Shanghai silver (Ag) rose 1.12% to 9318.00 yuan/kilogram. COMEX gold fell 0.03% to 3407.30 dollars/ounce, and COMEX silver fell 0.10% to 38.57 dollars/ounce. The US 10-year Treasury yield was 4.24%, and the US dollar index was 97.77 [2] - Various gold and silver products showed different price changes and trading volumes. For example, Au(T+D) rose 0.20% to 774.71 yuan/gram, and Ag(T+D) rose 1.26% to 9278.00 yuan/kilogram [4] 2. Market Outlook - US Treasury Secretary Bessent called for a more aggressive interest rate cut in the Fed's monetary policy. He believes the benchmark interest rate should be lowered by 150 - 175 basis points, with a 50 - basis - point cut in September. Trump also wants to lower the interest rate to 1%. Although there are differences in the appointment of the Fed chairman between Bessent and Trump, Trump's view will dominate, leading the Fed to a more accommodative monetary policy [3] 3. Investment Strategy - It is recommended to buy on dips in the precious metals market. The reference operating range for the main contract of Shanghai gold is 766 - 787 yuan/gram, and for Shanghai silver, it is 9075 - 9520 yuan/kilogram [3] 4. Data Summary - A detailed summary of key gold and silver data is provided, including closing prices, trading volumes, open interest, and inventory changes from August 12 to August 13, 2025, along with their daily changes and historical quantiles [7] 5. Charts and Analysis - Multiple charts are presented, including the relationship between gold and silver prices, trading volumes, open interest, and other factors such as the US dollar index, real interest rates, and ETF holdings. These charts help analyze the market trends and characteristics of precious metals [9][12][17]