贵金属日报-20260316

1. Report Industry Investment Rating - Not provided in the given content 2. Core View of the Report - Today, precious metals showed a weak and volatile trend. The market expects the Fed to keep interest rates unchanged this month. With a significant increase in energy prices, inflation expectations have risen, and the expectation of rate cuts this year has dropped to less than once. The market is waiting for Powell's statement at this week's Fed meeting for guidance [1]. - Geopolitically, the conflict between the US and Iran shows no sign of easing. Although Trump signaled that the war was nearing an end, Iran's Supreme Leader said they would not give up revenge, and the Israeli military said military operations against Iran would continue for at least three more weeks [1]. - There is a high degree of uncertainty in the war and the global economic outlook. It is difficult to predict when the Strait of Hormuz will resume normal shipping. Precious metals are suppressed by the weakening expectation of Fed rate cuts. In the short - term, the international gold price may fluctuate around $5000 per ounce [1]. - Currently, the possibility of the US obtaining huge benefits in the Middle East through this war has decreased. The US debt problem and the global de - dollarization logic will continue. In the future, the gold price is expected to remain at a high level, but it will also fluctuate more frequently when the valuation is high. Investors should patiently wait for low - buying opportunities [1]. 3. Summary According to Related Information Geopolitical Situation - Trump said the US military bombed Iran's oil export hub, Kharg Island, and is not ready to reach an agreement with Iran. The US military will soon escort oil tankers through the Strait of Hormuz. Israeli Prime Minister Netanyahu confirmed he is still alive and said Israel will continue its actions against Iran. The Israeli military said military operations against Iran will last at least three more weeks [2]. - Iran's Foreign Minister said Iran has never proposed a cease - fire or negotiation. A senior Iranian commander said ending the war has two conditions: Iran regains all losses and the US leaves the Persian Gulf [2]. - Iran's Foreign Minister said the Strait of Hormuz is only closed to "hostile countries and their allies' oil tankers and ships". Iran has allowed two Indian LPG carriers and a Turkish ship to pass through the Strait of Hormuz. From March 1st to 15th, only 77 ships passed through the Strait of Hormuz [2]. - The US has called on multiple countries to escort ships in the Strait of Hormuz. South Korea, Japan, France and other countries have responded. The UK is discussing relevant options, and the French Foreign Minister will discuss a joint naval mission in the Strait of Hormuz with EU foreign ministers on Monday [2].