Group 1 - Spot gold has fallen to $3280 per ounce, marking a 1.45% decline and reaching a new low in one month [1]

Core Viewpoint - Gold prices have dropped to a new low since June, primarily influenced by a combination of factors including easing geopolitical tensions and a decline in risk aversion [1] Group 1: Geopolitical Factors - The announcement of a ceasefire agreement between Israel and Iran has led to a rapid decrease in tensions in the Middle East, resulting in a withdrawal of funds from safe-haven assets like gold to riskier assets such as U.S. stocks and oil stocks [1] - The global stock markets have collectively risen, with major U.S. indices increasing by over 1%, while oil prices have plummeted by more than 7%, further diminishing gold's appeal as a safe haven [2] Group 2: Monetary Policy and Dollar Impact - The expectation for a rate cut by the Federal Reserve has been postponed, as Chairman Powell indicated the need to observe the impact of tariffs on inflation, leading to a shift in market focus from a July rate cut to a September cut with a probability exceeding 70% [3] - The U.S. dollar has shown a phase of strength, supported by resilient economic data, which has increased the holding costs of gold priced in dollars, thereby exerting downward pressure on international gold prices [4] Group 3: Technical Selling and Market Sentiment - A technical breakdown occurred when gold prices fell below critical support levels (e.g., $3,300 per ounce), triggering algorithmic trading sell-offs and exacerbating downward pressure [5] - Speculative funds have taken profits after gold prices surged due to Middle Eastern conflict expectations, with prices reaching $3,476 per ounce on June 16 before the ceasefire [6] Group 4: Domestic Gold Price Trends - Domestic gold jewelry prices have dropped below 1,000 yuan per gram, with brands like Chow Tai Fook and Lao Feng Xiang quoting prices between 998-1,006 yuan per gram, reflecting a daily decline of up to 14 yuan per gram [7] - The wholesale price in the Shenzhen market has also decreased to around 768 yuan per gram, following international trends [7] Group 5: Future Key Variables - The stability of the Middle East ceasefire is crucial; any resurgence of conflict could lead to a renewed increase in safe-haven demand [8] - Future signals from the Federal Reserve, particularly from Powell's subsequent speeches and July's non-farm payroll data, will be pivotal in shaping rate cut expectations [9] - Long-term support remains from global central bank gold purchases, which surged by 170% year-on-year in Q1 2025, with the People's Bank of China increasing its holdings for 18 consecutive months [10] Group 6: Investment Recommendations - A short-term wait-and-see approach is advised, focusing on whether the support levels of $3,250-$3,300 can hold [11] - For long-term positioning, gold remains a tool for hedging against inflation and geopolitical risks, suggesting a strategy of gradual accumulation on dips [12]

Core Viewpoint - Spot gold has fallen below the $3200 per ounce mark for the first time since April 14, with a daily decline of 1.6% [1] Group 1 - Spot gold price dropped to $3200 per ounce, marking a significant decline [1] - New York futures gold also retreated below $3200 per ounce, with a daily decrease of 1.48% [1]

Group 1 - Spot gold has fallen below $3210 per ounce for the first time since April 14, with an intraday decline of 3.50% [1]

现货黄金跌破3250美元/盎司，较日高回落逾42美元。WTI原油期货站上63美元/桶，日内涨3.24%。 ...

Core Viewpoint - Spot gold has fallen below $3,230 per ounce [1] Group 1 - The decline in spot gold prices indicates a potential shift in market sentiment towards precious metals [1]

现货黄金跌势延续，最新下跌2%，至每盎司3224.22美元。 同日，多个金饰品牌也下调足金饰品价格。其中，老庙足金饰品价格995元/克、周生生足金饰品1002元/克、周大福足金饰品1009元/ 克。 ...

Group 1 - Spot gold experienced a significant decline of 2.00% in a single day, currently priced at 3222.44 USD per ounce [1]

Group 1 - Spot gold experienced a significant decline of $50.70, currently priced at $3237.84 per ounce, reflecting a drop of 1.54% [1]

Core Viewpoint - Spot gold has fallen below $3,300 per ounce, retreating over $36 from its initial high point [1] Group 1 - The decline in spot gold prices indicates a significant market movement [1] - The drop of over $36 suggests volatility in the gold market [1]