贵金属日报-20251010

Investment Ratings - Gold: ★☆☆, indicating a bullish bias but limited operability in the market [1] - Silver: ★☆★, with a somewhat more complex rating, perhaps suggesting a mix of short - term and long - term considerations [1] Core Views - The medium - to long - term upward logic of precious metals remains unchanged. However, with the entry into force of the first - phase Gaza cease - fire agreement and gold and silver reaching their integer - level target prices, the short - term upward momentum of gold has slowed, and silver's volatility has increased. There is a need to be wary of adjustments due to profit - taking by funds, and caution should be exercised at historical highs [1] Other Summaries Central Bank and Policy - Related - Fed officials have different views on interest rate cuts. Williams supports further cuts, believing the labor market may slow further; Barr advocates caution in cutting rates; Kashkari generally agrees with Barr; Daly thinks policy remains moderately tight after the September cut, and the Fed is expected to implement more cuts as part of risk management [2] - High - ranking Japanese official Takaichi Sanae has no intention of causing excessive yen depreciation, and it's unclear when the next interest rate hike will occur, but she is likely to be cautious. Yen weakness has both positive and negative impacts on the economy [2] - The central bank of the Democratic Republic of the Congo plans to build up its gold reserves during the gold price surge to stabilize the national currency [2]