Market Overview - International gold prices experienced significant fluctuations, with a notable drop of 1.95% on May 7, followed by a further decline of 1.74% on May 8, reaching a low of $3288.445 per ounce [1] - As of May 8, gold prices fell below the $3300 per ounce mark again, indicating ongoing volatility in the market [1] Economic Factors - The Federal Reserve maintained the federal funds rate at 4.25% to 4.5%, marking the third consecutive meeting without a rate cut, which has implications for gold prices [5] - A recent trade agreement between the U.S. and the U.K. has raised expectations for similar agreements with other countries, easing market tensions and negatively impacting gold's safe-haven demand [5] Risk Management - The Shanghai Gold Exchange issued a notice emphasizing the need for market participants to strengthen risk management due to the high volatility in international precious metal prices [9] - The exchange advised members to prepare risk contingency plans and maintain market stability amid the fluctuations [9] Price Trends - Since the beginning of 2025, gold prices have surged by 29.4%, driven by various factors, including significant inflows into ETFs, suggesting that the recent price corrections are reasonable [9] - The rapid increase in gold prices necessitates market participants to digest the information and adjust their positions accordingly [9]

Group 1 - On April 30, the Shanghai gold spot price was quoted at 781.57 CNY per gram, showing a premium of 1.27 CNY over the futures main price of 780.30 CNY per gram [1] - The national gold price overview on April 30 indicated that the market price for gold with a purity of 99.99% was 778.19 CNY per gram in Huangpu District, while the Shanghai gold spot market quoted it at 781.29 CNY per gram [2] - The Shanghai Futures Exchange recorded a closing price of 780.30 CNY per gram for the main gold futures contract on April 30, with a decline of 0.89% and a trading volume of 246,636 contracts [2] Group 2 - The Shanghai Futures Exchange reported that as of April 30, the gold futures warehouse receipts remained stable at 15,648 kilograms, with a slight decrease of 27 kilograms over the past month, representing a reduction of 0.17% [3] - The World Gold Council's report for Q1 2025 indicated that global gold demand reached 1,206 tons, a year-on-year increase of 1%, despite gold prices surpassing 3,000 USD per ounce [3] Group 3 - According to Hualian Futures research, the recent comments from U.S. President Trump regarding tariffs have eased inflationary pressures, leading to a significant pullback in gold prices, with the Shanghai gold showing a premium of about 3% over London gold [4] - The report suggests that while short-term adjustments in gold prices may occur due to reduced favorable factors and market sentiment, the underlying logic for gold's rise remains intact, and external investors have not exited the market [4]