Market Performance - The Shanghai Composite Index fell by 0.36% [1] - The Shenzhen Component Index decreased by 0.53% [1] - The ChiNext Index dropped by 0.66% [1] Industry Trends - The AI industry chain experienced a general pullback, with CPO and AI application concepts leading the declines [1] - PCB and Huakun Zhenyu concepts collectively saw significant downturns [1] Commodity Movements - Precious metals followed the recovery in the futures market [1] - Traditional Chinese medicine stocks performed well [1]

Market Trends & Economic Outlook - US stock futures are treading carefully as bond yields have picked up, leading investors to scale back bets on Federal Reserve interest rate cuts [2] - The 10-year Treasury yield has added nearly 15 basis points in the past week, approaching 45% [5] - Traders reassess expectations for Federal Reserve interest rate cuts as price increases accelerated in June [5] - The market is closely watching President Trump's trade plans and potential tariffs on pharmaceutical companies and semiconductors, assessing their impact on inflation [6] - Bets on Federal Reserve interest rate cuts are fading as recent data has shown signs of sticky inflation, with core prices increasing 29% in June compared to the prior year [47] - Traders now see just a 52% chance the Fed cuts rates in September, down from a 70% chance seen just a week ago [48] AI & Technology Sector - Nvidia closed at a record high, above $170 per share, with plans to sell H20 AI chips in China [7] - ASML, a supplier of computer chipmaking equipment, said it may not achieve growth in 2026 due to macroeconomic uncertainty and geopolitical developments; shares fell more than 7% in pre-market trading [8] - The AI trade is considered to be in a 3-5 year bull market, but may be overheated in the short term [10][11] - Apple announced that it would buy rare earth magnets from MP Materials in a $500 million deal [46] Banking & Financial Performance - Bank of America reported adjusted earnings per share of 89 cents, higher than analyst expectations of 85 cents, with revenue at $265 billion [16] - Bank of America's net interest income for the second quarter came in at $1467 billion, above estimates for $146 billion [18] - Bank of America's trading revenue in the second quarter came in at $538 billion, exceeding the street's expectation of $494 billion [19] - Bank of America's investment banking revenue came in at $143 billion, slightly above estimates for $127 billion [21] Precious Metals Market - Silver has risen more than 28% this year, outperforming gold and copper [24] - Croup forecasts silver to continue to soar above $40 an ounce [24] - Central banks have been a huge determining force in their buying of gold, with over 1,000 tons bought in each of the last three years [31] - Trump's tariffs on copper threatening to be 50% on August 1st, we're seeing a lot of front running in this trade [28] Healthcare Sector - Johnson and Johnson reported second quarter adjusted EPS of $277, boosting its full-year sales outlook to a range of $932 billion to $936 billion and full-year adjusted earnings per share to a range of $1080 to $1090 [42][43] - The pharma sector is bracing for potential tariffs from President Trump [44] Impact of Tariffs - Rio Tinto said that US tariffs on its Canada-made aluminum have added $300 million in costs in the first half of this year [39] - Trump hit Canada with a 50% tariff on aluminum and auto parts in June [40]

Investment Strategy - The panel advocates for increased allocation to precious and industrial metals in investment portfolios [1]

Price Performance - London Gold's latest price is 3318.25 with no change [2] - London Silver's latest price is 35.77 with no change [2] - London Platinum's latest price is 1304.00 with no change [2] - London Palladium's latest price is 1049.00, down 22.00 [2] - WTI Crude's latest price is 64.92 with no change [2] - LME Copper's latest price is 9761.00, up 35.50 [2] - The latest Dollar Index is 97.70 with no change [2] - The latest Euro to US Dollar exchange rate is 1.17 with no change [2] - The latest British Pound to US Dollar exchange rate is 1.37 with no change [2] - The latest US Dollar to Japanese Yen exchange rate is 145.27 with no change [2] - The latest US 10 - year TIPS is 2.01 with no change [2] Trading Data - COMEX Silver's latest inventory is 15561.77 with no change [3] - SHFE Silver's latest inventory is 1270.83, down 5.97 [3] - Gold ETF's latest holding is 953.39 with no change [3] - Silver ETF's latest holding is 14866.19, down 50.88 [3] - SGE Silver's latest inventory is 1378.88 with no change [3] - SGE Gold's latest deferred fee payment direction is 1 with no change [3] - SGE Silver's latest deferred fee payment direction is 1 with no change [3] Data Source - The data in the report is sourced from Bloomberg, Yong'an Yuandian Information, and Wind [10]

Precious Metals Market Overview - Gold price reached 3325, showing a year-to-date increase of over 26% [1] - The market anticipates a potential double top for gold in the first half of the year, suggesting a need for a significant market shock to drive prices higher in the second half [1] - A $4,000 target for gold is projected, potentially materializing by 2026 [2] Performance of Other Precious Metals - Platinum is experiencing significant upward momentum, with prices hitting 1200 this morning and potential for further gains [2] - Platinum is expected to outperform palladium, which is also seeing price increases [2] - Silver is currently trading at 36 and is projected to reach 240 [3] Factors Influencing Precious Metals - Geopolitical factors and a worsening US budget deficit could provide further upward momentum for precious metals prices [3] - The second half of the year may not be as strong for gold compared to the first half [3]