黄金：JH会议鲍威尔放鸽，白银：冲顶前高

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Viewpoints - Gold: After the JH meeting, Fed Chair Powell signaled dovishness. The trend strength of gold is 1, indicating a neutral outlook [1][5]. - Silver: Silver is approaching its previous high. The trend strength of silver is 1, also indicating a neutral outlook [2][5]. 3. Summary by Relevant Catalogs 3.1 Fundamental Tracking - Prices: Comex gold 2510 rose 1.00% to 3417.20, and London gold spot rose 0.95% to 3369.82. Comex silver 2510 increased 2.07% to 39.390, and London silver spot rose 1.85% to 38.801 [2]. - Trading Volume and Open Interest: For example, the trading volume of Comex gold 2510 increased by 59,697 to 179,273, and its open interest decreased by 2,083 to 323,440 [2]. - ETF Holdings: The SPDR gold ETF held 956.77, with no change from the previous day. The SLV silver ETF (as of the day before yesterday) held 15,288.82, an increase of 11 [2]. - Inventory: Comex gold inventory (as of the day before yesterday) increased by 9,952 to 38,573,764 (in troy ounces), while Comex silver inventory (as of the day before yesterday) remained unchanged at 508,499,193 (in troy ounces) [2]. - Spreads: The spread between gold T+D and London gold increased by 386.39 to 387.75. The spread between silver T+D and London silver increased by 5,051 to 4,262 [2]. - Exchange Rates: The US dollar against the offshore RMB (CNH spot) rose 0.13% to 7.19 [2]. 3.2 Macro and Industry News - Fed Chair Powell signaled dovishness, emphasizing employment risks and opening the door for rate cuts [2]. - China's State Council heard reports on large - scale equipment upgrades and consumer goods trade - in policies and studied releasing sports consumption potential [6]. - The Ministry of Industry and Information Technology will guide the construction of computing power facilities and accelerate the breakthrough of key core technologies such as GPU chips. China's intelligent computing power scale will grow by over 40% this year [6]. - A draft rule on internet platform pricing aims to prevent disorderly competition [6]. - The Hang Seng Index will include Pop Mart, JD Logistics, and China Telecom [6]. - NVIDIA will announce "black technology" for humanoid robots on Monday, launch Spectrum - XGS Ethernet, and Huang Renxun wants to sell new special - purpose chips to China [5].