Group 1: Gold Market Analysis - The gold price experienced a slight decline due to a strong US dollar, with spot gold down 0.2% to $3359.99 per ounce, while the highest point reached $3396 and the lowest was $3346 [2] - Geopolitical tensions, particularly between the US and Iran, are influencing market sentiment, with potential for escalation affecting gold's safe-haven demand [2][3] - Technical indicators suggest a bearish outlook for gold, with a significant resistance level at $3405 and a potential for further declines if prices remain below this level [3][5] Group 2: Oil Market Analysis - International oil prices showed volatility, initially rising before retracting, as markets reacted to US strikes on Iranian nuclear facilities, raising concerns about supply disruptions [6] - Goldman Sachs highlighted the risk of a systemic supply crisis due to geopolitical tensions, with Brent crude potentially entering a trading range above $90 [6] - Technical analysis indicates a bullish trend for oil, with prices testing new highs and strong upward momentum expected in the short term [7]

Group 1: Gold Market Dynamics - Gold prices experienced fluctuations, reaching a peak of $3349.1 per ounce before closing at $3322.6, reflecting a slight decline of 0.09% [1] - Geopolitical tensions, particularly the ongoing Russia-Ukraine conflict, are providing strong support for gold prices, as recent military actions have escalated [5] - The World Bank has downgraded global economic growth expectations to 2.3% for 2025, citing trade barriers and rising tariffs, which enhances gold's appeal as a safe-haven asset [6] Group 2: U.S.-China Trade Negotiations - The second round of U.S.-China trade negotiations commenced in London, with positive progress reported by the U.S. Commerce Department, which could impact global economic conditions and gold prices [3] - If negotiations yield favorable outcomes, market risk appetite may temporarily increase, potentially exerting downward pressure on gold prices in the short term [3] - Long-term implications of the trade war, including supply chain restructuring and economic slowdown, may continue to support gold demand [3] Group 3: U.S. Monetary Policy and Inflation - Recent U.S. non-farm payroll data exceeded expectations, reducing the likelihood of rapid interest rate cuts by the Federal Reserve [4] - Market anticipations suggest a potential 25 basis point rate cut may occur later in 2025, influenced by rising inflation pressures [4] - The upcoming U.S. Consumer Price Index (CPI) data is crucial for assessing economic health and guiding expectations for the dollar and Fed interest rates, which could impact gold prices [4] Group 4: Oil Market Overview - International oil prices remain near seven-week highs, with WTI crude reaching $65 before closing at $64.47 per barrel, while Brent crude settled at $66.72 [8] - OPEC+ is set to increase production by 411,000 barrels per day in July, continuing to ease previous production cuts, which may exert pressure on oil prices [8] - The balance between global trade developments and OPEC+ production increases creates a complex environment for oil price movements [10]

研 究 原油：或延续强势，多单、正套轻仓持有 黄柳楠 投资咨询从业资格号：Z0015892 huangliunan021151@gtjas.com 2025 年 6 月 9 日 【国际原油】 WTI7 月收涨 1.21 美元/桶，涨幅 1.91%，报 64.58 美元/桶；布伦特 8 月原油期货收涨 1.13 美 元/桶，涨幅 1.73%，报 66.47 美元/桶；SC2507 原油期货收涨 8.00 元/桶，涨幅 1.71%，报 475.90 元/桶。 （以上资讯来源于金十数据） 请务必阅读正文之后的免责条款部分 1 商 品 研 究 所 1. 美国商品期货交易委员会（CFTC）：原油投机者在截至 6 月 3 日的一周内将 WTI 净多头头寸增 加了 39,598 手，达到 106,755 手。 2. 金十数据 6 月 7 日讯，伊朗外长表示，下一轮伊美会谈的日期尚未确定。我们将在未来几天对 美方最近的提议作出回应。阿曼外交部长随后将确定下一轮谈判的时间和地点。 3. 美国至 6 月 6 日当周石油钻井总数 442 口，前值 461 口。 4. 金十数据 6 月 6 日讯，美国财政部网站发布消息称，美国对伊朗 ...

Group 1: Investment Rating - The investment rating for crude oil is to wait and see in the short - term and try long positions with a light position [1] Group 2: Core View - The report analyzes the price changes of international crude oil futures and provides a short - term investment strategy for crude oil, along with various economic data and geopolitical events that may affect the oil market [1][2] Group 3: Summary by Related Information International Crude Oil Futures Prices - WTI June crude oil futures rose $1.96 per barrel, or 3.43%, to $59.09 per barrel; Brent July crude oil futures rose $1.92 per barrel, or 3.19%, to $62.15 per barrel; SC2506 crude oil futures rose 8.10 yuan per barrel, or 1.77%, to 465.90 yuan per barrel [1] Economic Data - China's Caixin Services PMI in April was 50.7, with an expected value of 51.8 and a previous value of 51.9 [2] - Switzerland's seasonally - adjusted unemployment rate in April was 2.8%, in line with expectations and the previous value [2] - France's April Services PMI final value was 47.3, with an expected value of 46.8 and a previous value of 46.8 [2] - Germany's April Services PMI final value was 49, with an expected value of 48.8 and a previous value of 48.8 [2] - UK's April Services PMI final value was 49, with an expected value of 48.9 and a previous value of 48.9 [2] - Eurozone's March PPI monthly rate was - 1.6%, in line with expectations and a previous value of 0.20% [2] - US March trade balance was - $140.5 billion, with an expected value of - $137 billion and a previous value revised from - $122.7 billion to - $123.2 billion [2] - US April Global Supply Chain Pressure Index was - 0.29, with a previous value of - 0.18 [2] - US API crude oil inventory for the week ending May 2 was - 4.494 million barrels, with an expected value of - 2.48 million barrels and a previous value of 3.76 million barrels [2] Geopolitical Events - The EU Commission will propose a legal proposal to ban the import of natural gas and liquefied natural gas from Russia by the end of 2027 [2] - Israel Defense Forces launched an air strike in Yemen, destroying Sanaa International Airport and several power plants and a cement factory [2] - India launched "Operation Sindhul" against multiple locations in Pakistan, and Pakistan launched ground and air operations in response [2] - The US and Yemen's Houthi rebels reached an agreement not to attack each other's ships, but the Houthi rebels' senior officials did not confirm the cease - fire [4] - The fourth round of Iran - US nuclear talks may be held on May 11 [4] Tariff and Trade Agreements - If the negotiation fails, the EU will impose tariffs on US goods worth 100 billion euros [4] - The UK and India reached a free - trade agreement [4] - The UK and the US are expected to reach a trade agreement this week to reduce tariffs on cars and steel [4] - Trump may renegotiate the US - Mexico - Canada Agreement [4] Saudi Oil Pricing - Saudi Arabia set the official selling price of Arabian Light crude oil for the US in June at a premium of $3.40 per barrel over the Argus Sour Crude Index [2] - Saudi Arabia set the official selling price of Arabian Light crude oil for Asia in June at a premium of $1.40 per barrel over the Oman/Dubai average [2] Trend Intensity - The trend intensity of crude oil is 0, indicating a neutral view [3]

Group 1: Gold Market Analysis - The international gold price has shown a short-term increase, currently at $3028.81 per ounce, with a rise of 0.71% [2] - The price opened at $3012.82, reaching a high of $3035.58 and a low of $3007.31, indicating volatility in the market [2] - President Trump is focusing on the Federal Reserve, pushing for quicker interest rate cuts to alleviate economic pressure, which may impact gold prices [2] - Despite a recent downward trend in daily gold prices, the critical support level at $3000 has not been breached, suggesting a potential for upward movement [3][5] - The current market sentiment remains bullish, with a recommendation to adopt a buy-on-dips strategy, targeting resistance levels between $3038 and $3043 [5] Group 2: Oil Market Analysis - Brent crude oil futures rose by $0.01 to $73.01 per barrel, while WTI increased by $0.01 to $69.12 per barrel [6] - Concerns over Trump's tariffs potentially slowing economic growth and oil demand are prevalent, alongside supply restrictions due to sanctions on Venezuela and Iran [6] - The oil market is experiencing a mixed sentiment, with short-term upward momentum observed despite a longer-term bearish trend [7] - The recommendation for oil trading is to focus on buying on dips, with resistance levels identified between $70.0 and $70.5 and support levels between $68.2 and $67.7 [7]