1. Report Industry Investment Rating - Not provided in the given content 2. Core View of the Report - Trump's key appointments to the Fed's理事 positions will pressure the Fed into a further easing cycle, which is a continuous positive factor for gold and silver prices [1]. - The market has increased its expectations for the Fed's subsequent loose monetary policy. The Fed is likely to implement further loose monetary policies due to Trump's personnel appointments and significantly lower - than - expected employment data. It is recommended to buy precious metals on dips. The reference operating range for the main contract of Shanghai Gold is 777 - 801 yuan/gram, and for the main contract of Shanghai Silver is 9081 - 9520 yuan/kilogram [1][2]. 3. Summary by Related Catalogs Market Quotes - **Domestic Futures**: Shanghai Gold (Au) rose 0.12% to 786.80 yuan/gram, and Shanghai Silver (Ag) rose 0.02% to 9279.00 yuan/kilogram. Au(T + D) closed at 783.27 yuan/gram, up 0.16%; Ag(T + D) closed at 9249.00 yuan/kilogram, up 0.27% [1][3]. - **International Futures**: COMEX gold fell 0.82% to 3462.70 dollars/ounce, and COMEX silver fell 0.12% to 38.50 dollars/ounce. London gold rose 0.31% to 3394.15 dollars/ounce, and London silver fell 0.22% to 38.29 dollars/ounce [1][3]. - **ETF Holdings**: SPDR Gold ETF holdings increased by 0.06% to 959.64 tons, and SLV Silver ETF holdings decreased by 0.80% to 14990.80 tons [3]. - **Other Market Indicators**: The 10 - year US Treasury yield was 4.27%, and the US dollar index was 98.22. The Dow Jones Index rose 0.47%, the S&P 500 rose 0.78%, and the Nasdaq Index rose 0.98% [1][3]. Market Outlook - Trump's appointment of Milan as a Fed理事 and the potential selection of Waller as the new Fed chairman will increase Trump's influence on the Fed's monetary policy, putting pressure on the Fed to cut interest rates. Fed理事 Bowman supports interest rate cuts in the remaining three policy meetings this year [1]. - The market expects an 89.3% probability of a 25 - basis - point interest rate cut by the Fed in September and a 53.5% probability of a further rate cut in October [2]. Key Data Summary of Gold and Silver - **Gold**: COMEX gold's closing price (active contract) was 3458.20 dollars/ounce, down 0.70%; trading volume increased by 28.40% to 31.25 million lots; open interest increased by 0.99% to 44.96 million lots; inventory decreased by 0.22% to 1200 tons [5]. - **Silver**: COMEX silver's closing price (active contract) was 38.51 dollars/ounce, down 0.05%; open interest decreased by 5.32% to 16.13 million lots; inventory increased by 0.07% to 15754 tons [5]. Price and Volume Charts - Multiple charts show the relationship between the prices, trading volumes, and open interests of COMEX gold, Shanghai gold, COMEX silver, and Shanghai silver, as well as their historical trends and near - far month structures [7][9][11]

当地时间8月10日，美国财政部长贝森特表示，他正牵头物色美国联邦储备委员会主席鲍威尔的继任人选。 △美国财政部长贝森特（资料图） 贝森特表示，新任美联储主席应具备审视整个机构的能力，赢得市场信任、能分析复杂经济数据，并注重前瞻性思维而非依赖 历史数据。 近期，美国总统特朗普连续发声，要求美联储委员会进一步降息，并以下一任美联储主席人选的话题对现任主席鲍威尔施压。 鲍威尔回应称，美联储货币政策必须"完全非政治"，重申美联储仍在观察美国关税带来的影响，而后再进一步决策。 点亮"在看"，你最好看！ (*ノ 3 卜) 鲍威尔的任期应于2026年5月结束，他在特朗普第一任期内被提名为美联储主席。美国总统通常会在现任美联储主席任期最后几 个月才宣布下一任提名人选。 来源 央视新闻客户端 编辑 佘诗婕 —— / 好文推荐 / —— "对等关税"2.0来袭 越南股市屡创新高 美印友谊终结？印度市场大跌 刘卫东的双面人生 美国军工"定时炸弹"被引爆 黑芝麻"改嫁"广西国资 "中国是可借鉴的现实范本" "上海的二次元入口在这儿！" 李嘉诚甩货400套大湾区房源 ...

今日早间，现货黄金与比特币双双低开，COMEX黄金跌幅近1%。消息面上，美国财长贝森特8月10日 表示，正牵头物色美联储主席鲍威尔的继任者，称新任主席需具备审视机构、赢得市场信任、分析复杂 数据及前瞻性思维等能力。 近期，美国总统特朗普持续施压美联储降息，并借下一任主席人选话题向鲍威尔施压。鲍威尔则重申， 美联储货币政策"完全非政治"，需观察关税影响后再决策。鲍威尔任期至2026年5月，通常美国总统会 在其任期最后几个月宣布继任者。 中东局势方面，特朗普与以色列总理内塔尼亚胡通话，讨论以方"接管加沙地带剩余哈马斯据点以结束 军事行动"的计划。8日，以色列安全内阁已批准该计划，以军准备接管加沙城。此举引发多国和国际组 织谴责，敦促以方停止"战争计划"。 伊朗外交部10日发表声明，强烈谴责以色列接管加沙城计划，称这是以色列对巴勒斯坦人实施种族灭绝 和消灭巴勒斯坦计划的一部分。声明强调，国际社会有责任制止种族灭绝，并向加沙被压迫人民提供援 助。伊朗要求以色列立即停止对加沙的攻击，无条件向该地区运送人道主义援助，保证救济组织行动自 由，并支持地区和国际社会实现全面停火的努力。 来源：金融界 ...

今日早间，现货黄金、比特币集体低开，其中，COMEX黄金跌近1%。消息面上，美财长表示，正牵头物色鲍威尔的继任人选，特朗普也有最新消息。 | < W | 伦敦金现 | | | | | Q | | --- | --- | --- | --- | --- | --- | --- | | | SPTAUUSDOZ.IDC | | | | | | | 3394.970 " | | | 3398.579 | 原 | | 0 | | -3.609 | -0.11% -- | | 3398.750 | 现手 | | 0 | | 最高价 | 3405.210 | 持 仓 | 0 | 9 2 | | 0 | | 最低价 | 3389.965 | 增 仓 | 0 | 内 雷 | | 0 | | 4784 | 五昌 | EK | 周Ｋ | 月K | 明多 | (0) | | 叠加 | | | | 均价:0.000 | | | | 3407.193 | | | | 0.25% | 卖一 3395.180 | | | | | | | | 3394.970 | | | | | | | 7:21 | 3394.780 | 0 | | | ...

Group 1 - The U.S. Treasury Secretary is leading the search for a successor to Federal Reserve Chairman Jerome Powell, emphasizing the need for a candidate who can analyze complex economic data and gain market trust [3] - President Trump has been pressuring the Federal Reserve for further interest rate cuts, using the topic of the next Fed chair to influence Powell [3] - Powell's term is set to end in May 2026, and typically, the President announces the next nominee in the final months of the current chair's term [3] Group 2 - Trump discussed with Israeli Prime Minister Netanyahu the plan to take control of remaining Hamas strongholds in Gaza, which has drawn international condemnation [5] - The Israeli security cabinet has approved Netanyahu's plan to defeat Hamas, with military preparations underway to take over Gaza City [5] - Iran's Foreign Ministry condemned the Israeli plan, calling it part of a genocide against Palestinians and urging for humanitarian aid to be allowed into Gaza [5]

Group 1 - The A-share market experienced a rebound driven by trading funds, with a notable increase in volatility expectations and a return to a "dumbbell" style focusing on dividends and small-cap stocks [1][2] - The margin trading balance reached a nearly 10-year high of 2 trillion yuan, indicating significant liquidity support for the market [2][3] - The number of public fund reports has shown signs of recovery, suggesting a potential shift of household savings into equity funds [2][3] Group 2 - The "anti-involution" policy is beginning to show results, with July's PPI year-on-year expected to rebound from its low point, although the extent of recovery will depend on policy effectiveness [3][4] - The macroeconomic indicators, such as improved profit margins for industrial enterprises and reduced accounts receivable turnover days, reflect positive impacts from the "anti-involution" measures [3][4] - Certain sectors, including wind power, automotive, logistics, and aquaculture, are experiencing a recovery in sentiment, indicating a broader improvement in economic conditions [3][4] Group 3 - External risks remain, particularly regarding tariff policies and Federal Reserve monetary policy, which could affect market sentiment and investment strategies [4][5] - The market is approaching a period of concentrated interim report disclosures, which may lead to increased volatility, but the downside risk is considered limited [5][6] - Tactical investment strategies are recommended to focus on sectors with improving sentiment and potential for rebound, such as storage, software, and certain chemical products [5][6]

Group 1 - The international gold price on August 10, 2025, closed at $3397.13 per ounce, showing a slight increase of $1.50 (0.04%) from the previous day, with a trading range of $3377.43 to $3408.71 [2] - The international silver price also rose, closing at $38.30 per ounce, up 0.16% (an increase of $0.06), while platinum and palladium prices fell by $13.52 (1.00%) and $34.30 (2.93%) respectively, indicating a complex differentiation within the precious metals market [2] - Domestic gold prices from major brands showed significant variation, with Lao Feng Xiang leading at 1017 CNY per gram, while prices from other brands like Chow Tai Fook and Chow Tai Sheng were around 1015 CNY per gram, contrasting sharply with the lower price of 793 CNY per gram in the Shenzhen Shui Bei market [3] Group 2 - The Shanghai Gold Exchange reported a gold price of 783.00 CNY per gram, down 0.27 CNY (0.034%) from the previous day, with fluctuations between 780.00 CNY and 784.70 CNY [4] - Historical data on gold recycling prices (purity 99.9%) showed stability, fluctuating between 753 CNY and 770 CNY per gram, although actual recycling prices may vary due to market fluctuations and regional differences [7] - Future gold price trends are influenced by multiple factors, including the Federal Reserve's monetary policy, geopolitical risks, global economic conditions, and investor sentiment, with potential long-term price increases projected to exceed $4000 or even $5000 per ounce, despite possible short-term technical corrections [8]

Core Viewpoint - The U.S. Treasury Secretary is leading the search for the successor to Federal Reserve Chairman Jerome Powell, emphasizing the need for a candidate who can analyze complex economic data and gain market trust [1] Group 1 - The new Federal Reserve Chairman should possess the ability to review the entire institution and focus on forward-thinking rather than relying solely on historical data [1] - President Trump has been vocal about his desire for further interest rate cuts from the Federal Reserve and is using the topic of the next chairman to pressure Powell [1] - Powell reiterated that the Federal Reserve's monetary policy must remain "completely non-political" and stated that the Fed is still assessing the impact of U.S. tariffs before making further decisions [1] Group 2 - Powell's term is set to end in May 2026, and typically, the U.S. President announces the next nominee in the final months of the current chairman's term [1]

Core Viewpoint - The Federal Reserve has maintained interest rates for the fifth consecutive time, resisting pressure from President Trump, while a significant personnel change occurred with Adriana Kugler's resignation from the Board of Governors [5][6][7]. Group 1: Federal Reserve's Decision - The Federal Reserve decided to keep the federal funds rate target range unchanged at 4.25% to 4.50% during its meeting on July 30, marking the fifth consecutive decision to maintain rates [6][7]. - The decision was influenced by economic indicators showing a slowdown in economic activity in the first half of the year, a stable unemployment rate, and persistent inflation concerns [6][7]. Group 2: Personnel Changes - Adriana Kugler announced her resignation on August 1, shortly after the Fed's decision to maintain interest rates, which raised questions about the timing of her departure [6][8]. - Kugler's resignation was effective on August 8, and she will return to Georgetown University, where she has retained her teaching position [9][10]. - President Trump expressed satisfaction with Kugler's resignation and indicated he would nominate a candidate to fill the vacancy on the Federal Reserve Board [8][13]. Group 3: Future Implications - Trump's administration is reportedly narrowing down candidates for the next Federal Reserve Chair, with a focus on individuals who align with his economic policies [7][13]. - The vacancy left by Kugler's resignation may provide Trump an opportunity to influence the future direction of the Federal Reserve, particularly in light of ongoing tensions regarding interest rate policies [12][13].

Group 1 - The U.S. labor market showed signs of slowing down, with non-farm payrolls increasing by only 73,000 in July, below the market expectation of 104,000, and a downward revision of nearly 260,000 jobs in the previous two months, resulting in an average increase of only 35,000 jobs over the past three months, the worst since the end of the pandemic [1] - The unemployment rate in July rose by 0.1 percentage points to 4.2%, in line with expectations, while average hourly earnings increased by 3.9% year-on-year, surpassing both June's increase and the expected 3.8% [1] - The ISM manufacturing index fell to 48 in July from 49 in June, indicating further contraction, contrary to expectations of a rebound to 49.5 [3] Group 2 - The Federal Reserve maintained the federal funds rate target range at 4.25% to 4.5% during the July meeting, with Chairman Powell emphasizing that the current moderate tightening policy remains appropriate despite risks in the labor market [3] - Market expectations indicate an 87% probability of two rate cuts by the end of the year, following a hawkish stance from the Federal Reserve [4] - Investment strategies suggest focusing on reasonably valued quality stocks that would benefit from rate cuts and diversifying stock portfolios into non-U.S. markets, while maintaining a neutral duration in bond portfolios to manage interest rate market volatility [4]