Core Viewpoint - The timing for a potential interest rate hike by the Bank of Japan remains highly uncertain according to Aviva Investors [1] Group 1 - Aviva Investors anticipates that the long end of the Japanese government bond yield curve will flatten [1] - The company suggests that the government may shift its issuance from long-term bonds to short-term bonds [1] - Despite a cautious tightening path in monetary policy, the specific timing for an interest rate increase is still highly uncertain [1]

Group 1 - The core viewpoint indicates that gold prices are experiencing a downward trend influenced by the Federal Reserve's hawkish policy signals, with interest rate cut expectations reduced from three to two by the end of 2025 [1] - Despite a slight recovery in the dollar index, the tightening monetary policy remains a significant bearish factor for gold prices [1] - Global trade tensions and ongoing Middle East conflicts are boosting safe-haven demand, providing support for gold prices and limiting further declines [1] Group 2 - The current bullish momentum in gold is evident, with clear resistance at the 3380-3385 range, while the price has not breached the upward channel, maintaining a complete medium to long-term upward structure [3] - The daily chart shows a doji candlestick pattern, with prices retracing to the middle Bollinger Band, indicating a continued oscillating downward trend [3] - The suggested trading strategy includes shorting gold in the 3375-3380 range, with a stop loss at 3388 and a target of 3360-3340 [3]

Group 1 - The Bank of England reaffirms that monetary policy will need to remain tight until the risks of inflation returning to the 2% target in the medium term are further eliminated, ensuring the sustainability of this target [1]

Core Viewpoint - The Czech National Bank's monetary policy will remain tight, indicating a commitment to controlling inflation and stabilizing the economy [1] Group 1 - The Czech central bank's governor emphasized the importance of maintaining a restrictive monetary policy to combat inflation [1] - The decision reflects ongoing concerns about economic stability and inflationary pressures within the Czech Republic [1]