Core Viewpoint - Goldman Sachs has raised its forecast for quarterly copper prices due to the easing of trade tensions and a potential recovery in Chinese copper demand, which may continue to support copper prices in the coming months [1] Group 1 - The easing of trade tensions is expected to positively impact copper prices [1] - A recovery in Chinese copper demand is anticipated to further support price stability [1] - The forecast adjustment reflects a more optimistic outlook for the copper market in the near term [1]

Market Performance - The Hong Kong stock market opened positively on May 2, with the Hang Seng Index rising by 1.74% to close at 22,504.68 points, the Hang Seng Tech Index increasing by 3.08%, and the National Enterprises Index up by 1.92% [1][2]. Sector Performance - Technology stocks saw a significant increase, with Xiaomi Group rising over 6%, Alibaba and JD Group up more than 3%, and Kuaishou, Lenovo Group, Bilibili, and Tencent Holdings each gaining over 2% [2][3]. - New energy vehicle companies collectively surged, with Li Auto's stock increasing by over 7% [3]. - CXO concept stocks experienced a substantial rise, with WuXi AppTec gaining over 7% [3]. - New tea beverage stocks also performed well, with Nayuki's Tea rising by over 8% [3]. Company Updates - Xpeng Motors reported a year-on-year increase of 273% in new car deliveries for April, while Li Auto's new car deliveries grew by 31.6% [4]. - Xiaomi's automotive division delivered over 28,000 vehicles in April, with the Xiaomi SU7 Ultra model starting to be delivered [4]. Currency and Trade Insights - The offshore RMB to USD exchange rate saw a significant increase, rising over 370 points to reach 7.24, the highest level since April 4 [4]. - China is currently evaluating trade negotiations with the United States, with indications of a marginal easing in trade tensions, leading to a release of market bullish sentiment [6]. Future Market Outlook - China Galaxy Securities suggests that investor risk appetite is gradually recovering, supported by positive fiscal policies and moderately loose monetary policies, which may lead to stable earnings growth in the Hong Kong stock market [6]. - Guotai Junan Securities indicates that under increasing external pressures, domestic demand-related sectors may benefit from rising consumer policy expectations, predicting a short-term consolidation in the Hong Kong market with a gradual shift towards technology growth style investments [6].

Group 1 - The Chinese Ministry of Commerce indicated that the U.S. has actively communicated with China regarding potential talks, which has sparked optimism in the market [1] - Global stock markets saw a significant rise, with the FTSE China A50 index futures up 1.3%, the Hang Seng Index closing up 1.7%, and the Nikkei Index rising over 1% [1][33] - U.S. pre-market trading showed a collective rise in popular Chinese concept stocks, with XPeng Motors up over 6% and Alibaba up over 4% [1][15] Group 2 - Spot gold rebounded, surpassing $3,260 per ounce, indicating a positive trend in precious metals [2][22] - The offshore Chinese yuan strengthened significantly, rising 500 points against the U.S. dollar during the day [2][19] - The U.S. dollar weakened against the Japanese yen, with a decline of 0.5% reported [4][40] Group 3 - Major U.S. stock index futures showed slight gains, with the S&P 500 futures up 0.5% [8][35] - The Hang Seng Index closed up 1.74%, with the Hang Seng Technology Index rising 3.08%, reflecting strong performance in tech stocks [17][18] - The market is closely watching the upcoming U.S. non-farm payroll report, which is expected to influence investor sentiment [44]

Core Viewpoint - The offshore RMB exchange rate has strengthened significantly, reaching its highest level since April 4, indicating a potential easing of trade tensions and positive consumer sentiment during the May Day holiday [1][2]. Group 1: Offshore RMB Exchange Rate - The offshore RMB against the USD rose by over 370 points, peaking at 7.24, the highest since April 4 [2]. - Analysts suggest that signs of easing trade tensions have led to a release of bullish market sentiment, contributing to a collective rebound in global markets [2]. Group 2: May Day Holiday Consumption - Consumption during the May Day holiday exceeded market expectations, with historical highs in transportation data. The national railway is expected to send 144 million passengers, a 4.9% increase year-on-year [3]. - The aviation sector anticipates a total of 10.75 million passengers over the five-day holiday, averaging 2.15 million per day, marking an 8% year-on-year increase [3]. - The influx of foreign tourists to China has surged, with inbound travel orders increasing by 173% during the holiday, driven by favorable policies and tax refund services [3][4]. Group 3: U.S. Federal Reserve Rate Cut Expectations - U.S. Treasury Secretary Scott Bessenet indicated that the bond market signals a need for the Federal Reserve to lower interest rates, with traders expecting a total cut of 100 basis points by the end of the year [5][6]. - The current two-year U.S. Treasury yield is 3.717%, below the federal funds rate of 4.33%, suggesting market pressure for a rate cut [5]. - The upcoming U.S. non-farm payroll report is anticipated to influence market expectations regarding the Fed's rate decisions, with economists predicting a lower job growth figure compared to March [7].

Core Viewpoint - The article highlights a decline in gold prices due to easing trade tensions and a decrease in safe-haven demand, alongside a strengthening dollar impacting the attractiveness of gold as a safe asset [1] Group 1: Market Dynamics - Gold futures have plummeted as trade tensions ease and safe-haven demand diminishes [1] - A strong dollar has further dampened enthusiasm for gold as a safe asset, making dollar-denominated commodities more expensive for international buyers [1] Group 2: Economic Indicators - There is optimism in the market regarding a potential trade agreement in the U.S., leading to increased risk appetite [1] - Following the release of a series of weak economic data, expectations for interest rate cuts in the U.S. have risen, as the economy contracted by 0.3% in the first quarter [1] - Lower interest rates typically stimulate demand for non-yielding gold [1]

Core Viewpoint - Gold prices have experienced a significant drop, with a decline of over $50 on May 1, marking a continuous downward trend due to reduced demand for safe-haven assets amid easing international trade tensions [1][4][6]. Group 1: Recent Price Movements - On May 1, spot gold prices fell to $3240.62 per ounce, a decrease of 1.45% [1][2]. - The price of gold has been on a downward trajectory for three consecutive days, with notable declines of 0.81% and 0.85% on the preceding days [4][6]. - The recent peak of gold prices reached $3500 per ounce, but the market is now adjusting following this high [6][10]. Group 2: Market Influences - Analysts attribute the decline in gold prices to a decrease in demand for safe-haven assets as trade tensions appear to be easing, with the U.S. government indicating potential trade agreements [4][10]. - U.S. Trade Representative Jamison Greer mentioned that preliminary trade agreements could be announced soon, which may lead to reduced tariffs on trade partners [5][9]. - The market sentiment has shifted from panic selling to cautious optimism due to the U.S. administration's willingness to engage in trade negotiations [10][11]. Group 3: Economic Indicators - Recent data has raised concerns about the U.S. economy, with the first quarter showing a contraction for the first time since 2022, attributed to a surge in imports and reduced government spending [9][10]. - Investors are closely monitoring upcoming economic data, including the personal consumption expenditure price index and the monthly non-farm payroll report [9][10]. - Despite the recent downturn, forecasts suggest that gold prices could rebound, with predictions of reaching $3590 per ounce by the end of the second quarter and $3800 by year-end [9][10].

周三（北京时间4月30日），现货黄金交投于3312美元附近，近期持稳于3310美元附近。投资者在等待 本周的关键经济数据，以判断美联储的政策前景。黄金周二下跌近1%，主要原因是贸易紧张局势缓和 的信号减少了一些避险需求。现货金报每盎司3315.84美元，下跌0.8%；美国期金收低0.4%，报3333.6 美元。 投资者目前密切关注本周一系列重要的美国经济数据，包括周三的个人消费支出物价指数和周五的月度 非农就业报告。这些数据将为投资者提供关于美国经济状况的重要信息，进而影响美联储的政策决策。 美联储的政策前景对黄金市场具有重要影响。如果经济数据表现强劲，可能促使美联储维持当前的利率 水平或采取紧缩性政策，这将对黄金价格产生下行压力。相反，如果经济数据表现疲弱，可能促使美联 储采取宽松政策，从而为黄金价格提供支撑。 汽车关税政策的潜在影响 官员们表示，特朗普总统的政府计划通过降低对美国制造的汽车所使用的外国零部件的税收，并确保进 口汽车不会被征收多重关税，来减轻汽车关税的影响。这一政策调整可能对美国汽车制造业产生积极影 响，同时也可能缓解市场对贸易摩擦的担忧。然而，这一政策的具体实施细节和市场反应仍需进一步观 ...

Group 1: Gold Market Analysis - The market reacted negatively to the slow pace of interest rate cuts by the Federal Reserve, leading to a significant drop in gold prices from a historical high of $3500 to a low of $3260, with a daily decline of 240 points [1] - On April 23, gold experienced a volatile trading session, initially opening lower by nearly 60 points but later recovering to reach a high of $3387 before closing at $3288, indicating strong selling pressure [3] - The expectation of further declines in gold prices is noted, with a potential drop of over 200 points anticipated by the end of the week, suggesting a bearish outlook for short-term trading strategies [3] Group 2: Silver Market Analysis - Silver opened at $32.45 but quickly fell to $32.07 before rebounding and entering an upward trend, demonstrating strong resilience and bullish sentiment [5] - During the U.S. trading session, silver surged past the critical resistance level of $33.00, reaching a daily high of $33.65, indicating a potential move towards $34.00 [5] - Short-term trading strategies for silver suggest focusing on selling during rebounds while considering buying on pullbacks, with key resistance at $34.00 and support at $33.00 [5]

Report Overview - Report Date: April 24, 2025 [1] - Report Title: "GOLDTRUST FUTURES CO., LTD - Gold Closes with a Negative Line. Has the Price Reached the Peak?" [2] Core Viewpoints - Gold prices are under downward pressure due to the rebound of the US dollar and US stocks, profit - taking by long - positions, and increased policy uncertainty [3] - The short - term trend of stock index futures is expected to continue the strong oscillation pattern, while the price is considered too high and is likely to be significantly reduced [7] - In the long - term, the upward logic of gold remains unchanged. After a short and rapid adjustment around the 10 - day moving average, gold will resume rising at a slower pace [11] - Iron ore prices may be supported by short - term replenishment demand during the steel mill's复产 cycle but are constrained by long - term capacity expansion. The short - term trading strategy turns to oscillation with a bullish bias [14] - The demand for glass needs the stimulus effect of the real estate sector or major policies to be fully released. The short - term trading strategy is to view it as an oscillating market [18] - Due to the approaching end of the Brazilian new - season soybean harvest and a bumper harvest, the upward space for domestic soybean prices is limited [22] Section Summaries Hotspot Focus - The US dollar index rose 0.6% to 98.95, and US stocks rebounded, diverting funds from the gold market. Gold prices were also affected by profit - taking and policy uncertainty [3] Technical Analysis - Stock Index Futures - The short - term trend of stock index futures is expected to maintain a strong oscillation pattern, and the price is likely to be significantly reduced [7] Technical Analysis - Gold - In the long - term, the upward logic of gold remains. After a short - term adjustment around the 10 - day moving average, gold will rise again at a slower pace. In the short - term, it faces a technical correction [11] Technical Analysis - Iron Ore - Short - term replenishment demand during the steel mill's复产 cycle may support iron ore prices, but long - term capacity expansion is a constraint. The short - term trading strategy turns to oscillation with a bullish bias [14] Technical Analysis - Glass - The demand for glass needs the real estate stimulus or major policies. The short - term trading strategy is to view it as an oscillating market [18] Technical Analysis - Soybean No.1 - Due to the approaching end of the Brazilian new - season soybean harvest and a bumper harvest, the upward space for domestic soybean prices is limited [22]

Apple (AAPL) shares have outperformed the S&P 500 over the past week, falling just 1% compared to the index’s 2.3% decline. And why not? The beaten-down iPhone maker, which is down 18% so far this year, has been receiving a string of good news lately.On April 12, 2025, President Donald Trump reportedly excluded smartphones, laptops, and various other tech devices and components from his newly imposed reciprocal tariffs. According to the White House, these exemptions were granted to give companies time to sh ...