贵金属日评：特朗普解除美联储官员库克职务，特朗普因数字服务法或制裁欧盟-20250826

Group 1: Investment Ratings - No investment rating for the industry is provided in the report. Group 2: Core Views - The Fed Chair Powell's indication of a potential rate cut in September due to weak employment supply - demand, combined with Trump's pressure on the Fed and global central banks' continuous gold purchases, may make precious metal prices more likely to rise than fall. Investors are advised to buy on price dips. Specific support and resistance levels are provided for London gold, Shanghai gold, London silver, and Shanghai silver [1]. Group 3: Summary by Relevant Catalogs Market Data Summary - Precious Metals in Shanghai: For Shanghai gold, on August 25, 2025, the closing price was 775.34 yuan/gram, with a change of 3.71 compared to relevant dates. The trading volume was 31,936.00, and the holding volume was 195,962.00. For Shanghai silver, the closing price was 181.00 yuan/kg, the trading volume was 333,308.00, and the holding volume was 3,296,160.00 [1]. - COMEX Futures: For COMEX gold futures, the closing price was 3,417.20, the trading volume was 94,317.00, and the holding volume was 327,912.00. For COMEX silver futures, the closing price was 38.55, the trading volume was 41,605.00, and the holding volume was 44,783.00 [1]. - International Markets: London gold spot price was 3,335.50 dollars/ounce, and SPDR gold ETF holding volume was 1.72. London silver spot price was 38.01 dollars/ounce. The price ratios of gold to silver in different markets (Shanghai, New York, London) are also presented [1]. Important News - Geopolitical News: The meeting between US and South Korean leaders ended without results. Trump said the July trade - agreement terms remain unchanged and hopes to meet Kim Jong - un this year. Trump removed Fed Governor Cook from office and the Trump administration may sanction EU officials over the digital services law [1]. - Macroeconomic News: US inflation rates (PPI and core CPI) rose in July due to import tariffs. Fed Chair Powell hinted at a possible policy adjustment, increasing the expectation of a September rate cut. The European Central Bank may cut rates at most once by the end of 2025. The Bank of England cut the key rate by 25 basis points in August and may slow down the balance - sheet reduction. The Bank of Japan may raise interest rates before the end of 2025, with the earliest possibility in October [1]. Trading Strategies - It is recommended to buy precious metals on price dips. For London gold, focus on the support level around 3,200 - 3,300 and the resistance level around 3,400 - 3,500. For Shanghai gold, the support level is around 760 - 770 and the resistance level is around 800 - 810. For London silver, the support level is around 34 - 36 and the resistance level is around 37 - 40. For Shanghai silver, the support level is around 8,500 - 8,700 and the resistance level is around 9,100 - 9,500 [1].