宝城期货贵金属有色早报-20250818

Report Industry Investment Rating - Not provided in the content Core Viewpoints of the Report - Gold is expected to decline in the short - term, with a short - term bearish view due to the easing of the US - Ukraine and Russia - Ukraine situations, which puts pressure on the gold price [1][3] - Copper is expected to rise in the short - term, with a short - term bullish view as the macro - environment warms up, the copper price stabilizes and rebounds, and the market risk preference may continue to rise, along with the increasing expectation of the Fed's interest rate cut [1][4] Summary by Relevant Catalogs Gold - Time - cycle Views: Short - term: decline; Mid - term: oscillation; Intraday: oscillation and weakening [1] - Core Logic: On August 15 local time, the US and Russian presidents met in Alaska, with positive evaluations but no agreements. Ukraine's President Zelensky will meet with Trump on the 18th, and EU, NATO, and European leaders will also have a meeting at the White House on the 18th. The easing of US - Russia and Russia - Ukraine relations over the weekend puts pressure on the gold price [3] Copper - Time - cycle Views: Short - term: rise; Mid - term: oscillation; Intraday: oscillation and strengthening [1] - Core Logic: Last week, the copper price fluctuated upward. After the US - Russia presidential meeting on August 15, the relations between the two countries improved, and the market risk preference may continue to rise. The expectation of the Fed's interest rate cut in September is increasing, and the industry is approaching the peak season, so the futures price is expected to strengthen [4]