一位有出口业务的国内工业机器人企业的董事长称，美国232调查对其在海外业务影响不大。他表示，关税压力下，工业机器人服务的部分下游领域，比如光伏、锂电、3C等行业可能面临更多压力。“美国制造业回流将会是一个漫长的过程。”该人士表示，近年来，公司出口美国的产品大多来自于该公司位于海外的子公司，“我们在多年前就已经展开海外市场的布局，包括通过收购一些海外本土市场的公司来做业务调整，因此影响不大”。（一财）外汇交易员 (@myfxtrader):美国商务部表示，已对进口口罩、注射器和输液泵，以及机器人和工业机械（包括可编程计算机控制机械系统和工业冲压机）展开新的国家安全调查（232调查，对特定产品进口是否威胁美国国家安全进行立案调查）。 https://t.co/wTtDltjcrc ...

Group 1 - Gold futures are currently trading around 853.22 yuan per gram, with a decline of 0.63%, and have fluctuated between a high of 861.22 yuan and a low of 852.40 yuan [1] - The short-term outlook for gold futures appears bearish [1] Group 2 - The Trump administration has officially announced the implementation of a trade agreement with the EU, which includes a 15% tariff on various goods imported from the EU starting August 1 [3] - The EU Commission President Ursula von der Leyen stated that the 15% tariff rate is the best outcome achievable under the current circumstances [3] - The U.S. Energy Secretary Dan Brouillette emphasized that the U.S. is fully prepared to replace all Russian natural gas and oil products entering the European market [3] Group 3 - There is growing discontent within the U.S. oil and gas industry regarding Trump's energy policies, with warnings that current policy missteps are causing significant harm [4] - A recent Dallas Federal Reserve energy survey revealed critical feedback from industry participants, highlighting concerns over political hostility and short-sighted economic decisions affecting the U.S. shale industry [4] - The survey included a stark comment from an anonymous respondent, indicating that the U.S. shale business has been severely undermined [4] Group 4 - Key resistance levels for gold futures are identified between 860 yuan per gram, while important support levels are noted between 824 yuan and 850 yuan [4]

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core View of the Report - The upward trend of gold and silver has paused, showing some adjustments. The Fed's stance on interest rate cuts remains cautious, but the prospect of rate cuts is clear. The market expects rate cuts in the remaining two meetings this year. The long - term driver for gold is still clear due to factors such as the US fiscal deficit and central banks' gold purchases. However, there is a short - term adjustment [4]. 3. Summary by Related Catalogs Futures Market - **Gold Futures**: For沪金2510, the current price is 850.12, down 5.92 (-0.69%) from the previous close. The持仓量 is 60076, and the成交量 is 75472. For沪金2512, the current price is 853.06, down 6.94 (-0.81%), with a持仓量 of 274765 and a成交量 of 285621 [2]. - **Silver Futures**: For沪银2510, the current price is 10305.00, down 49.00 (-0.47%), with a持仓量 of 109776 and a成交量 of 175883. For沪银2512, the current price is 10349.00, down 48.00 (-0.46%), with a持仓量 of 516112 and a成交量 of 753535 [2]. Spot Market - **Gold Spot**: The Shanghai gold T + D previous closing price was 856.27, up 6.69 (0.79%). The London gold price was 856.56, down 3.86 (-0.45%), and in dollars per ounce, it was 3735.805, down 27.18 (-0.72%) [2]. - **Silver Spot**: The Shanghai silver T + D previous closing price was 10349.00, up 74.00 (0.72%). The London silver price was 43.89, down 0.13 (-0.29%) [2]. Inventory - **Gold Inventory**: The上期所黄金库存 increased by 1530.00 kg to 60543 kg, and the COMEX黄金库存 increased by 62032.18 to 39807223 [2]. - **Silver Inventory**: The上期所白银 inventory increased by 12756.00 kg to 1161799 kg, and the COMEX白银 inventory increased by 406878 to 527155089 [2]. Related Data - The dollar index increased by 0.65% to 97.8657, the standard -普尔指数 decreased by 0.28% to 6637.97, the US Treasury yield increased by 0.97% to 4.16, the Brent crude oil price increased by 0.01% to 68.26, and the US dollar to RMB exchange rate increased by 0.34% to 7.1379 [2]. Derivatives - The spdr黄金ETF持仓 increased by 1.00 tons to 44315 tons, the SLV白银ETF持仓 increased by 1.00 tons to 44315 tons. The CFTC speculators' net position in silver increased by 481 to 33486, and in gold decreased by 1451 to 32895 [2]. Macro News - The US and the EU have finalized a tariff agreement. The US will impose a 15% tariff on EU cars and parts from August 1st, and some EU products are on the tariff - exemption list from September 1st [2]. - US Treasury Secretary Besent criticized Fed Chairman Powell for not having a clear agenda for rate cuts and urged a 100 - 150 basis - point rate cut by the end of the year. The US Treasury is considering a $20 billion currency swap with Argentina [2]. - In August, the annualized number of new home sales in the US was 800,000, far exceeding the expected 650,000, with a month - on - month increase of 20.5%. The inventory of new homes for sale dropped to 490,000, the lowest level this year [3].

Core Points - The Trump administration is expanding the scope of tariffs to include robots and medical devices, with investigations initiated under Section 232 of the Trade Expansion Act [1] - The Department of Commerce has 270 days to submit policy recommendations to the President regarding imports deemed critical to national security [1] - Concerns over reliance on foreign medical supplies, such as syringes and sutures, have prompted the new investigation into medical devices [1] - The investigation into robots and industrial machinery will focus on computer-controlled systems and widely used factory equipment [1] - The Department of Commerce will also review trade in personal protective equipment, including gloves and masks used during the COVID-19 pandemic [1] - The new investigations expand the range of industries potentially facing tariffs, following similar inquiries into pharmaceuticals, semiconductors, aircraft, critical minerals, and heavy trucks [1] - Previous tariffs have been imposed on automobiles, copper, steel, and aluminum using the same legal framework [1] Industry Implications - The Section 232 investigations provide a significant policy backing for the Trump administration, especially if comprehensive tariffs against multiple economies are challenged in federal court [2]

Group 1 - The core viewpoint of the article is that the Trump administration has officially announced the implementation of a trade agreement with the European Union, which includes a 15% tariff on EU imported cars and automotive products starting from August 1 [3]. - The announcement also includes exemptions for certain pharmaceutical compounds, aircraft parts, and other imported goods from tariffs [3]. - The EU Commission President Ursula von der Leyen stated that the 15% tariff rate is the best outcome that the European Commission could achieve in the negotiations [3].

Group 1 - The core viewpoint of the article highlights the implementation of a trade agreement between the United States and the European Union, which includes a 15% tariff on EU imported cars and automotive products starting from August 1 [1] - The announcement was made by the Trump administration on September 24, confirming the details of the trade agreement [1] - EU Commission President Ursula von der Leyen stated that the 15% tariff rate was the best outcome achievable by the European Commission [1]

Trade Policy & National Security - US Department of Commerce initiates national security investigations (232 investigations) into imports of masks, syringes, IV pumps, robots, and industrial machinery [1] - The investigation aims to assess the extent to which domestic production can meet US demand and the role of foreign supply chains, particularly China [1] - The investigation will consider the impact of "foreign government subsidies and predatory trade practices" [1] - The investigation results could lead to higher tariffs on these products [1] Industry Impact - The investigation requires companies to provide details on projected demand [1] - The investigation requires companies to provide details on the extent to which domestic production can meet demand [1]

美联储戴利：有证据表明，关税对通胀产生了一次性影响。 来源：滚动播报 ...

Core Viewpoint - The Trump administration has officially announced the implementation of a trade agreement with the European Union, imposing a 15% tariff on EU imported cars and automotive products starting from August 1 [1] Group 1: Trade Agreement Details - The trade agreement includes a 15% tariff on EU goods, specifically targeting automobiles and automotive products [1] - Certain exemptions from tariffs have been outlined for specific pharmaceutical compounds, aircraft parts, and other imported goods [1] Group 2: Statements from Officials - President Trump stated that the U.S. has reached a new trade agreement with the EU, confirming the 15% tariff on EU exports to the U.S. [1] - EU Commission President Ursula von der Leyen indicated that the 15% tax rate was the best outcome achievable by the European Commission [1]

Core Viewpoint - Federal Reserve Chairman Jerome Powell warned that stock market valuations are "quite high," which negatively impacted market sentiment and ended a three-day rally in U.S. stocks [2][10]. Monetary Policy - Powell indicated that the Fed's dual mandate of maximum employment and price stability faces threats, suggesting that there is no risk-free policy path [2][17]. - The recent decision to lower interest rates was influenced by increased risks to employment, reflecting a shift in risk balance [2][17]. - Powell stated that the current policy stance remains "moderately restrictive," allowing for further rate cuts if labor market weaknesses outweigh inflationary pressures [5][18]. Inflation and Tariffs - Powell reiterated that tariffs are expected to have a temporary impact on inflation, leading to one-time price fluctuations that may last several quarters [3][17]. - He emphasized the need for the Fed to monitor the potential lasting effects of tariffs to prevent them from becoming a persistent inflation issue [3][17]. - Recent data showed inflation rising, with the Personal Consumption Expenditures (PCE) price index increasing by 2.7% over the past year, above the Fed's 2% target [16][17]. Labor Market - Powell acknowledged that the U.S. labor market can no longer be considered robust, with signs of substantive weakness emerging [8][15]. - The unemployment rate has slightly increased to 4.3%, with job growth significantly slowing down, averaging only 29,000 new jobs per month over the past three months [15][16]. - Despite the slowdown, some labor market indicators, such as the ratio of job vacancies to unemployed individuals, remain stable [16]. Market Reaction - Following Powell's remarks about high stock valuations, major U.S. stock indices turned negative, with the Nasdaq Composite Index dropping nearly 1% [2][10].