8月11日，黄金期现价格均大幅向下，相关词条一度冲上微博热搜榜首。 每经编辑｜陈柯名 8月12日，周生生金饰品克价跌至1010元，周大福金饰品克价跌至1008元，老庙金饰品克价跌至1004元，周六福金饰品克价跌至988元。 北京时间8月11日晚间，现货黄金失守3350美元/盎司，COMEX黄金跌近2.5%，COMEX白银也跌超1.7%。 8月12日，截至发稿，现货黄金回升至3350美元/盎司上方。 | +8.460 | +0.25% | 总量(ka) | 0.00 | 现手 | | 0 | | --- | --- | --- | --- | --- | --- | --- | | 最高价 | 3358.170 | 导 P | | 0 | | 0.000 | | 最低价 | 3341.750 | 早 仓 | | 0 | | 0.000 | | 分时 | 五日 | EK | 園Ｋ | 月Ｋ | 中关 | | | 叠加 | | | | | | | | 3358.17 | | | | 0.49% | 3350.400 | 0 | | | | | | | ने 1 3350.210 | 0 | | | | | | | ...

Group 1 - Gold prices fell below $3350 per ounce, with COMEX gold dropping nearly 2.5% and COMEX silver down over 1.7% [2][4] - The significant drop in gold prices was attributed to reduced safe-haven demand due to potential peace prospects in the Russia-Ukraine conflict and the upcoming U.S. inflation report affecting Fed rate cut expectations [4][9] - The New York Commodity Exchange saw a sharp decline in near-month gold futures, falling below $3400 per ounce, marking the largest drop since May [4][5] Group 2 - Following the announcement that the U.S. would not impose tariffs on imported gold bars, gold prices initially surged but later retraced gains as clarity on tariff policies remained uncertain [5][6] - Analysts noted that the current COMEX inventory levels are unusually high, indicating no liquidity issues, and there is speculation that U.S. Customs may revise its stance on tariff codes [6] - The market is closely monitoring upcoming U.S. consumer price index (CPI) and producer price index (PPI) data, with expectations that inflation data could influence Fed's interest rate decisions [6][7] Group 3 - The potential for a more dovish monetary policy from the Fed is anticipated following President Trump's nomination of Stephen Miran to fill a vacancy on the Fed Board [7] - The trade war dynamics, including new tariffs on semiconductor chips and pharmaceuticals, are also influencing market sentiment and gold prices [7][8] - The upcoming meeting between President Trump and President Putin is seen as a pivotal moment that could impact gold prices due to its implications for geopolitical stability [9]

1. Report Industry Investment Rating - This report does not provide an industry investment rating. 2. Core Viewpoints of the Report - On Tuesday, the prices of container shipping index (European line) futures mostly declined. The main contract EC2510 closed down 1.48%, and the far - month contracts declined between 1 - 2%. The latest SCFIS European line settlement freight rate index dropped by 2.7% week - on - week. The continuous decline of spot indicators and the decrease in Maersk's new weekly European line spot cabin opening quotes drove the futures prices down [1]. - Trump's tariff policies and China's counter - measures against the EU have increased the uncertainty of global trade, leading to weak demand expectations for the container shipping index (European line) futures, with large price fluctuations. However, the rapid rise of spot - end price indicators may drive the futures prices to rise in the short term. Investors are advised to be cautious, pay attention to operation rhythm and risk control, and track geopolitical, shipping capacity and cargo volume data [1]. 3. Summary According to Related Data Futures Market Data - EC main contract closing price: 1417.600, down 21.3; EC second - main contract closing price: 1742, down 30.4 [1]. - EC2510 - EC2512 spread: - 324.40, up 16.80; EC2510 - EC2602 spread: - 110.40, down 2.10 [1]. - EC contract basis: 817.88, down 71.18 [1]. - EC main contract open interest: 55954 hands, down 734 [1]. Spot Market Data - SCFIS (European line) (weekly): 2235.48, down 62.38; SCFIS (US West Coast line) (weekly): 1082.14, down 47.98 [1]. - SCFI (composite index) (weekly): 1489.68, down 61.06; Container ship capacity: 1227.97 million TEUs, unchanged [1]. - CCFI (composite index) (weekly): 1200.73, down 31.56; CCFI (European line) (weekly): 1799.05, up 9.55 [1]. - Baltic Dry Index (daily): 2051.00, down 13.00; Panama Freight Index (daily): 1635.00, down 21.00 [1]. - Average charter price (Panamax ship): 13075.00, down 218.00; Average charter price (Cape - size ship): 25236.00, down 2232.00 [1]. Economic and Trade News - The Chinese Foreign Ministry responded to US - related trade issues, opposing the politicization, instrumentalization and weaponization of science, technology and economic and trade issues, and hoped to achieve positive results on an equal, respectful and reciprocal basis [1]. - Trump put the Washington DC police under federal direct control, deployed the National Guard, and declared a public safety emergency in Washington DC [1]. - After the US imposed tariffs on most Mexican fresh tomatoes, Mexico set a minimum export price for fresh tomatoes [1]. - Trump signed an executive order to modify "reciprocal tariffs" for dozens of countries, with tariff rates ranging from 10% to 41%, and an additional 40% tariff on goods considered to be transshipped to avoid tariffs [1]. - China imposed counter - measures on EU brandy, medical devices and other categories, intensifying Sino - EU trade tensions [1]. Economic Data - The US S&P Global Composite PMI in June dropped slightly from 53 in May to 52.8, with obvious price pressure [1]. - The US retail sales data in June rebounded unexpectedly, with a month - on - month growth rate of 0.6%, significantly higher than the market expectation of 0.1% [1].

纽约商品交易所近月黄金期货合约周一重挫近2.5%，盘后失守每盎司3400美元，创今年5月以来最大跌幅。截至发 稿，COMEX黄金暂报每盎司3408.1美元，微涨0.1%。 据新华财经消息，美国总统特朗普11日下午在社交媒体上发文宣布，黄金将不会被征收关税。 由于市场认为美国海关与边境保护局将对进口的1公斤和100盎司金条加征关税，对黄金期货交割可能受到影响的担忧 刺激黄金期货价格在日前显著上涨并创下历史新高。 投资者也在关注贸易战形势的进展，这是今年推动金价上涨的重要因素。 上周四，美国对多个贸易伙伴加征新一轮对等关税，施压推动谈判。特朗普随后宣布，对半导体芯片和药品加征进口 关税，拟议中涉及药品的关税税率最终可能高达250%。 综合 | 每日经济新闻、新华财经 来源：华龙网 根据美国总统特朗普签署的行政令，美国从7日开始对从瑞士进口的产品征收39%的关税，而瑞士拥有的大量黄金储 备在保障国际黄金期货市场正常交割方面发挥重要作用。 与此同时，对黄金的避险需求因俄乌停火前景而减弱，投资者也在密切关注事关9月美联储降息的最新美国通胀报告 及依然不明朗的全球贸易形势进展。 如今，市场目光将转向最新美国物价数据。美国 ...

2025.08. 12 本文字数：1963，阅读时长大约3分钟 作者 | 第一财经 樊志菁 在上周引起市场剧烈波动后，美国总统特朗普周一宣布，不会对进口金条加征关税。当天国际金价震荡走低超2%，创近三个月来最大跌幅。 与此同时，对黄金的避险需求因俄乌停火前景而减弱，投资者也在密切关注事关9月美联储降息的最新美国通胀报告及依然不明朗的全球贸易 形势进展。 在外界的焦急等待中，美国总统特朗普周一在社交媒体发文称，进口黄金将不会被征收关税，但没有公布细节。 截至周一下午，美国相关机 构尚未发布对该政策的任何更新。 商品经纪商StoneX分析师奥康内尔（Rhona O'Connell）表示："芝加哥商品交易所COMEX库存目前占未平仓合约的86%，而正常情况下 为40%-45%，因此没有流动性问题。"他预计，美国海关与边境保护局仍可能修改其观点，或者华盛顿可能会将第二个HS编码添加到其排 除清单中，或者该行业可能会挑战美国海关与海关保护局的立场。 72小时市场巨变 纽约商品交易所近月黄金期货合约周一重挫近2.5%，盘后失守每盎司3400美元，创今年5月以来最大跌幅。 上周五（8日），美国海关和边境保护局表示，向美国供 ...

此前，已有八个欧盟成员国要求欧盟委员会对那些禁止零售商跨国采购的生产商采取干预行动。但时至今日，相关局势几乎没有变化。 穆勒表示，自有品牌的增长也帮助像Ahold Delhaize这样的企业在与A品牌谈判时更具优势，比如与JDE Peet's的谈判。"我们自家也为Perla品牌采 购咖啡，因此有了良好的对比材料。我们也看到这个品牌在门店中的销量在上升，顾客能够感受到它的价值。" 贸易战影响 来源：中荷商报ChinaTimes 除了带来额外的营业额，自有品牌还让超市在了解大品牌商品定价方面获得更多洞察。"在与这些所谓A品牌进行谈判时，这些信息就非常有价 值，"首席执行官弗朗斯·穆勒（Frans Muller）指出。尤其在欧洲，越来越多消费者因对A品牌价格上涨感到不满而转向价格更亲民的自有品牌。 超市与A品牌之间也常有纷争。例如，由于价格谈判僵持不下，Jumbo超市曾长期不销售喜力（Heineken）啤酒；Albert Heijn也一度停售由JDE Peet's供应的Douwe Egberts和Senseo品牌咖啡以及Pickwick品牌茶叶。 联合采购 为应对挑战，Ahold Delhaize正像竞争对手Jum ...

Core Viewpoint - The unprecedented arrangement between Nvidia and AMD to pay 15% of their sales revenue from chip sales in China to the U.S. government marks a significant shift in U.S. export control policies [1][3][5]. Group 1: Export License Conditions - Nvidia and AMD have received export licenses to sell chips in China, contingent upon paying 15% of their sales revenue to the U.S. government [3][6]. - Nvidia is expected to generate approximately $23 billion in revenue from selling around 1.5 million H20 chips in China by 2025, which could result in over $3 billion in payments to the U.S. government [3]. Group 2: Implications of the Arrangement - This arrangement is seen as a new phase in the trade war, with analysts highlighting its significance as it involves revenue sharing rather than profit sharing [5]. - The U.S. government is negotiating "trade agreements" on a company-by-company basis, indicating a more tailored approach to trade relations [5]. Group 3: Government Stance and Reactions - The U.S. Commerce Department has begun issuing export licenses for H20 chips, coinciding with a meeting between Nvidia's CEO and former President Trump [6]. - The Chinese Ministry of Commerce has expressed concerns over U.S. export controls, emphasizing the need for cooperation and a stable semiconductor supply chain [7]. Group 4: Tariff Policies - Trump has announced a 100% tariff on semiconductor imports but offers exemptions for companies that commit to building factories in the U.S. [8].

Core Insights - Nvidia and AMD have agreed to pay 15% of their sales revenue from chip sales in China to the U.S. government as a condition for obtaining semiconductor export licenses, marking a significant shift in U.S. export control policy [1][2] - Nvidia is expected to generate approximately $23 billion in revenue from the sale of 1.5 million H20 chips in China by 2025, which could result in over $3 billion in payments to the U.S. government [1][2] - This unprecedented arrangement indicates that the Trump administration is negotiating "trade agreements" on a company-by-company basis, suggesting a new era in the trade war [2] Company-Specific Developments - Nvidia received export licenses for H20 chips shortly after CEO Jensen Huang's meeting with President Trump, indicating a direct link between political discussions and business operations [3] - AMD has also begun receiving export licenses for its chips, although the company has not publicly commented on the arrangement [1][3] Government and Regulatory Context - The U.S. Department of Commerce has started issuing export licenses for H20 chips, coinciding with a broader strategy to encourage domestic investment and job creation while imposing tariffs on imports [3][4] - The Chinese government has expressed opposition to U.S. export controls, emphasizing the need for cooperation and fair competition in the semiconductor market [4]

Group 1 - The U.S. Secretary of State Rubio's comments suggest that the U.S. could benefit in certain sectors from a trade war with China, indicating a potential economic gamble [2] - In 2024, the U.S. imported goods worth $505 billion from China, and tariffs could lead to significant price increases for consumer goods, including a potential $30,000 rise in electric vehicle prices due to a 100% tariff on Chinese electric vehicles [2][4] - Major multinational corporations, particularly in the semiconductor and AI sectors, are likely to profit from the trade war, while ordinary consumers will bear the costs [4] Group 2 - The U.S. stock market experienced volatility following Rubio's statements, with tech stocks rising over 5%, while retail and consumer goods sectors faced declines due to rising import costs [4] - Nearly 30% of Chinese export companies rely on the U.S. market, and rising tariffs could lead to the closure of many small and medium-sized enterprises in China, particularly in the Pearl River Delta region [4] - The Chinese government announced a plan to invest 50 billion RMB in the semiconductor industry over the next three years to reduce reliance on the U.S., but this will take time to implement [4] Group 3 - The trade war has raised global concerns, with the EU calling for multilateral negotiations and warnings from German manufacturers about potential economic collapse in Europe due to U.S.-China tensions [6] - The U.S. Department of Commerce announced tariffs on Chinese 5G and cloud computing products, which could weaken U.S. companies that depend on Chinese components [6] - The U.S. Consumer Price Index rose by 3.3% in June 2024, and further tariff increases could exacerbate living costs for American consumers [6] Group 4 - Despite calls for decoupling, the U.S. continues to rely on the Chinese market, with a 13% increase in imports of U.S. chip equipment by China in the first half of 2024 [8] - The trade war is characterized as a dangerous gamble, with the potential for significant risks that could ultimately impact ordinary citizens globally [10]

"午夜已到！数亿美元的关税正滚滚流入美利坚合众国！" 8月7日，随着特朗普在"真实社交"上的胜利呼喊，美国的"对等关税"政策终于全面生效。 一个星期前，特朗普脸上挂着胜利的微笑，大笔一挥，更新了最新税率表。据白宫方面透露，这份最新关税清单将在8月7日零时正式生效。 不同于一开始的"温和"，现在的美国在经过数月的混乱威胁和反复无常后，变得丧心病狂、走火入魔。甭管是敌军还是友军，统统拉高关税。 除了以上几个国家和地区之外，其他在谈判中未能对美国做出让步的、被美国认为存在贸易失衡的国家，都被写进了制裁名单里。一些和美国存在贸易关系 的小国家，甚至连谈判的资格都没有，直接抢钱。 比如，巴尔干半岛的波黑和北非的阿尔及利亚，直接被征了30％的税。除此之外，文莱25％，孟加拉国20％。 这些小国家，税率还不是最高的。和美国关系密切的瑞士关税为39％，住在美国隔壁的加拿大税率为35％。叙利亚、老挝、缅甸等国超过40％。最冤的是巴 西，明明是美国的贸易顺差国，却因"金砖成员"的身份被美国记恨，征了50％的税。 据报道，目前，美国的平均关税税率已从去年的2.3％大幅提升至15.2％，达到了二战以来的最高水平。国际贸易市场哀鸿遍野 ...