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]

Core Viewpoint - Apple shares have shown resilience, outperforming the S&P 500 amid easing trade tensions and potential tariff exemptions, which could benefit the company significantly [1][3][4]. Group 1: Trade Developments - President Trump excluded smartphones, laptops, and tech components from new tariffs, allowing companies time to shift manufacturing to the U.S. [2] - Signs of easing trade tensions emerged as Trump and Treasury Secretary hinted at reducing 145% tariffs on Chinese goods, positively impacting market indices and Apple shares [3][4]. Group 2: Company Performance - Apple has experienced an 18% decline in stock value year-to-date but has recently received positive news that may improve its outlook [1][4]. - The company's market value dropped by over $640 billion following initial tariff announcements, with potential iPhone prices projected to rise significantly under full tariffs [4]. Group 3: Financial Metrics - Apple's current stock price is $199.74, with a 14-day Relative Strength Index (RSI) of 45.92, indicating oversold conditions [5][6]. - The stock's 200-day simple moving average (SMA) is 227.93, and the 50-day SMA is 220.46, suggesting bearish momentum [6][7]. - Valuation metrics show Apple at approximately 27.81 times forward earnings, its lowest since 2023, with a price-to-sales ratio of 7.44X, down from a five-year high [8]. Group 4: Investment Considerations - Investors may view the current dip in Apple shares as a buying opportunity due to recent valuation corrections and trade de-escalation signals [7][11]. - Exposure to Apple can be gained through Apple-heavy ETFs, which help mitigate company-specific risks [11].