Group 1 - Cook's attorney announced plans to sue President Trump over the dismissal, claiming the president lacks the authority to remove him [1] - The case may ultimately be decided by the U.S. Supreme Court, with Cook potentially seeking an injunction to restore his position during the litigation [1] - The Federal Reserve spokesperson emphasized that the long-term fixed terms of board members and protections against dismissal are crucial for ensuring monetary policy decisions are based on data and the long-term interests of the American people [1] Group 2 - The market sentiment has weakened following trade agreements between multiple countries and the U.S., with tariff revenues somewhat offsetting inflationary pressures on dollar assets [5] - Despite the support for the dollar, deteriorating U.S. economic data and significant government deficit pressures under high interest rates remain concerns, alongside increasing negative impacts from tariffs [5] - International gold prices are expected to fluctuate within the $3300-$3400 range, with a recommendation to construct a bullish spread strategy using gold call options during price corrections [5]

Group 1 - The core issue revolves around President Trump's attempts to exert control over the Federal Reserve's monetary policy, raising concerns about the independence of the Fed [1][2][3] - Trump's threat to dismiss Fed Governor Lisa Cook has sparked fears of a prolonged legal battle, which could further politicize the central bank [2][3] - If Cook is removed, Trump could gain control over four out of seven Fed board seats, potentially leading to a more dovish monetary policy stance [1][3] Group 2 - The dollar experienced volatility, initially weakening but recovering some losses, with the dollar index fluctuating around 98.47 [2] - Market expectations for faster and deeper interest rate cuts by the Fed are increasing, particularly if Cook is dismissed and replaced by a more dovish candidate [3][4] - Short-term U.S. Treasury yields fell to their lowest levels since May 1, reaching 3.6540%, driven by market risk aversion and increased bets on Fed rate cuts [4][5] Group 3 - Long-term Treasury yields are rising due to concerns that accelerated monetary easing could lead to renewed inflation, with the 30-year yield hovering around 4.9223% [5] - The political influence on the Fed is perceived to undermine its ability to manage market expectations effectively, potentially leading to a steeper yield curve [4]

Core Viewpoint - The gold market is experiencing a significant V-shaped reversal, with prices surging by $45 to challenge the $3400 mark after intense competition between bulls and bears [1][10]. Market Movement - After a volatile session with rapid price fluctuations, gold prices reached a high of $3395 today [3]. - Following this peak, there was a pullback, with prices dropping below the $3380 level [4]. - The next support level is seen at $3373, where a rebound opportunity may arise [5]. - The upward trend continues, with the potential to break above $3400 [6]. - The market is expected to face resistance at $3438 [7]. - However, prices are currently below $3400 and are experiencing another correction [8]. - A drop below $3373 indicates a further decline towards the $3350 support level [9]. Influencing Factors - Recent developments include pressure from former President Trump on the Federal Reserve, which has led to increased concerns about U.S. sovereign credit risk and rising U.S. Treasury yields, benefiting gold prices [10]. - Trump's renewed imposition of tariffs, including on furniture, has put additional pressure on the dollar, further supporting gold's upward movement [11]. - Upcoming speeches from Federal Reserve officials are expected to focus on interest rate cut expectations, with the potential for tariff policies to influence the Fed's decisions [12]. Broader Economic Context - Global central bank debt is reaching critical levels, with Japan's central bank setting a record for debt repayment budgets [13]. - A global trend of interest rate cuts is emerging, leading to an increasing burden of debt [14]. - The year 2025 is anticipated to be significant not only for tariffs but also for challenges facing the financial system due to rising debt levels [15].

Core Viewpoint - The unprecedented dismissal of Federal Reserve Governor Lisa Cook by President Trump may signal the end of the Fed's independence, a situation that financial markets have not fully priced in [1][2] Group 1: Impact on Federal Reserve Independence - Trump's action could mark a critical turning point for the Federal Reserve, potentially leading to higher inflation and increased market volatility if the White House gains control over monetary policy [1] - Evercore ISI warns that the market's current calmness does not adequately reflect the risks associated with a politicized Federal Reserve [2] - Investors may need to adjust their assumptions, as future Fed rate decisions could align more with Trump's preferences rather than economic fundamentals [2] Group 2: Trump's Strategy - Trump's approach to the Fed mirrors his trade policies, employing a gradual strategy that creates an illusion of stability while implementing significant changes [3][4] - By hinting at the potential dismissal of Powell, Trump shifted tactics to appoint loyalists to the Fed, aiming to gain a majority on the Board of Governors [4] Group 3: Potential Consequences of Dismissals - The potential removal of regional Fed presidents could significantly alter policy dynamics, reducing dissenting voices within the Federal Open Market Committee (FOMC) [5] - Trump's use of "specific reasons" for dismissals sends a clear message that he may take similar actions against any board member who does not align with his views [6] Group 4: Economic Implications - Current economic conditions, rather than the Fed's actions, are expected to drive inflation in the short term, with a temporary rise anticipated due to tariffs [8] - The market's inability to price in structural economic changes could lead to significant losses for investors, as historical precedents suggest potential for high inflation [8]

Group 1: Gold Market Insights - The core logic of the current gold market is influenced by President Trump's increasing interference with the Federal Reserve, raising concerns about the Fed's independence, which drives funds towards gold as a safe-haven asset [2] - The upcoming U.S. July PCE inflation data is crucial; if inflation exceeds expectations, it may limit the Fed's ability to cut interest rates, potentially putting pressure on gold prices [2] - Technically, gold prices are currently above the 100-day EMA, indicating a strong bullish foundation; the RSI is at 56.8, suggesting a neutral to strong market without severe overbought risks [2] Group 2: Key Price Levels for Gold - Key resistance for gold is identified in the $3400–$3410 range, which is a psychological barrier and coincides with the upper Bollinger Band and the August 8 high; a sustained position above this range could lead to a test of $3439 and potentially $3500 [2] - On the downside, $3325 is a significant support level; if breached, it may lead to testing the $3200 range, which has dual support from the Bollinger Band lower track and a psychological level [3] - A suggested entry point for gold is in the $3373–$3371 range, with a stop-loss at $3360 to allow for some volatility [5] Group 3: Oil Market Dynamics - The recent U.S. tariff increase on Indian imports, particularly targeting Russian oil, reflects the tight linkage between geopolitical events and the energy market, impacting oil prices [6] - Oil prices are currently finding support around $63, but face resistance in the $65–$66 range, indicating a stalemate between buyers and sellers [6] - Technical indicators show a lack of clear direction in the oil market, with the MACD momentum narrowing and RSI remaining neutral, suggesting a potential for range-bound trading until more fundamental news emerges [7] Group 4: Future Outlook for Oil - If oil prices can break above $66, there is a possibility of testing the $68 level; conversely, if the $63 support fails, prices may revisit the $60 mark [7] - The U.S. tariff policy may not significantly alter India's procurement of Russian oil due to cost considerations, indicating that geopolitical factors will continue to influence market dynamics [9] - The market is expected to remain volatile, influenced by geopolitical conflicts and the evolving energy cooperation between Russia and India, with a focus on India's future energy independence [9]

Group 1: Domestic Gold Market - Domestic gold prices remain stable, with some brands experiencing price increases. For instance, Chow Sang Sang's price rose by 3 yuan per gram, reaching a new high of 1014 yuan per gram, while Shanghai China Gold remains the lowest at 969 yuan per gram, resulting in a price difference of 45 yuan per gram between the highest and lowest priced stores [1] - The latest gold prices from various brands on August 27, 2025, show that Lao Miao and Liu Fu both maintain prices at 1010 and 1009 yuan per gram respectively, while the highest price is from Chow Sang Sang at 1014 yuan per gram [1] - Platinum prices also saw a slight increase, with Chow Sang Sang's platinum jewelry price rising by 1 yuan per gram to 549 yuan per gram [1] Group 2: Gold Recycling Prices - The gold recycling price surged by 11 yuan per gram, with significant price differences among brands. The recycling price for gold is reported at 778.10 yuan per gram, while Lao Feng Xiang offers the highest at 790.90 yuan per gram [2] - Other notable recycling prices include 783.60 yuan per gram from China Gold and 782.20 yuan per gram from Chow Sang Sang [2] Group 3: International Gold Market - The spot gold price fluctuated, closing at 3393.25 USD per ounce with a rise of 0.81%, but later dropped to 3378.38 USD per ounce, reflecting a decrease of 0.44% [4] - The increase in gold prices was attributed to market concerns over the independence of the Federal Reserve following President Trump's dismissal of Fed Governor Cook, which has heightened market risk aversion [4] - Analysts suggest that ongoing pressure from the Trump administration on key economic decision-making institutions is undermining their credibility and weakening the dollar's status as a safe-haven asset [4]

民主党人将在米然提名确认期间重点强调美联储的独立性。 美国国会8月份休会结束后的立法要务有哪些？ 美国总统特朗普与美联储之间迅速升级的冲突毫无疑问已经排在国会日程表的前列。 特朗普在25日以涉嫌住房抵押贷款欺诈为由解雇美联储理事库克。这一被媒体称为"史无前例"的做法引 发争议，库克称特朗普无权解雇她，并誓言将继续履职。库克的律师26日宣布，将对特朗普解雇库克的 行为提起诉讼。 当地时间26日，特朗普在谈及美联储时称，需要100%光明磊落的人。对于库克，特朗普称已准备好进 行法律斗争，并且"心中已有接替库克的合适人选"。 特朗普当天还称，可能会让白宫经济顾问委员会主席米然（Stephen Miran）接替库克。此前，特朗普已 经提名米然担任另一名即将离任的美联储理事职位。 米然目前担任特朗普经济顾问委员会主席，本月早些时候被提名临时填补美联储理事库格勒（Adriana Kugler）辞职而留下的空缺。 政治分析人士表示，库克一案最终可能由美国最高法院裁决，尽管1913年通过的《联邦储备法》规定， 任何美国总统都可以"因故"解雇美联储委员会成员。 库克继续表示，特朗普没有权力解雇她。 "特朗普总统声称'因故'解雇 ...

Group 1: Report Investment Rating - The investment rating for the precious metals industry is "Oscillating Strongly" [44] Group 2: Core Viewpoints - On Tuesday, the precious metals market maintained an oscillating and strengthening trend. The news of Trump firing Fed Governor Lisa Cook in the morning led to concerns about the Fed's independence, causing the US dollar to plunge briefly and driving up precious metals prices. In the afternoon, disputes over France's fiscal issues led to a decline in European stock markets, and the US dollar recovered briefly. The strong performance of the domestic equity market limited the elasticity of gold. Before the release of next week's non - farm payroll data, the market's expectation of a 25 - basis - point interest rate cut by the Fed in September remained stable, and dovish expectations are expected to continue to dominate the market [2][4] - In the medium term, the outlook for the gold trend is optimistic, but the recovery expectations brought about by the strengthening of emerging market equities may suppress its elasticity. The US labor market is on a downward trend, and the Fed's interest rate cut cycle is expected to resume in September. The Fed's shadow chairman is likely to align with the president's preferences before taking office. Overseas liquidity will maintain an expansion trend in the next 1 - 2 quarters, and the market may trade the risk of the Fed's independence, which will support the gold trend [4] - If the situation shifts to a combination of interest rate cuts and economic recovery, the elasticity of gold will be limited, and silver will benefit more [7] - The weekly range for spot London gold is expected to be between $3300 and $3500, and for spot London silver, it is expected to be between $36 and $40 [7] Group 3: Summary of Key Information Important News - Trump removed Fed Governor Cook from office, but Cook said Trump had no right to fire her and she would not resign [3] - In July, the preliminary value of US durable goods orders decreased by 2.8% month - on - month, better than the expected 4% decrease. After excluding national defense, it decreased by 2.5% month - on - month, better than the expected 3.6% decrease. After excluding transportation, it increased by 1.1% month - on - month, better than the expected 0.2% increase. After excluding aircraft and non - defense capital goods, it increased by 1.1% month - on - month, better than the expected 0.2% increase [3] - For the week ending August 22, US Redbook commercial retail sales increased by 6.5% year - on - year, higher than the previous value of 5.9% [3] - In June, the US FHFA housing price index decreased by 0.2% month - on - month, worse than the expected 0.1% decrease. The S&P/CS20 - city unadjusted housing price index increased by 2.1% year - on - year, in line with expectations [3] Market Performance - On August 26, 2025, the comprehensive index of CITIC Futures commodities decreased by 0.59%, the commodity 20 index decreased by 0.54%, and the industrial products index decreased by 0.78% [46] - The precious metals index increased by 0.04% on August 26, 2025, 1.81% in the past 5 days, 1.41% in the past month, and 23.55% since the beginning of the year [48]

特朗普在25日以涉嫌住房抵押贷款欺诈为由解雇美联储理事库克。这一被媒体称为"史无前例"的做法引 发争议，库克称特朗普无权解雇她，并誓言将继续履职。库克的律师26日宣布，将对特朗普解雇库克的 行为提起诉讼。 当地时间26日，特朗普在谈及美联储时称，需要100%光明磊落的人。对于库克，特朗普称已准备好进 行法律斗争，并且"心中已有接替库克的合适人选"。 特朗普当天还称，可能会让白宫经济顾问委员会主席米然（Stephen Miran）接替库克。此前，特朗普已 经提名米然担任另一名即将离任的美联储理事职位。 共和党人的担忧 熟悉国会立法事务的消息人士称，在休会前，参议院共和党人希望推动确认米然出任美联储明年即将空 缺的理事职位，并已经计划下周在参议院银行委员会举行米然提名的听证会。但是，这场听证会在特朗 普解雇库克前就已经确定，目前米然接替库克职位的正式讨论还没有被提上国会日程。 民主党人将在米然提名确认期间重点强调美联储的独立性。 美国国会8月份休会结束后的立法要务有哪些？ 美国总统特朗普与美联储之间迅速升级的冲突毫无疑问已经排在国会日程表的前列。 米然目前担任特朗普经济顾问委员会主席，本月早些时候被提名临时填补美 ...

Group 1 - The current total holdings of the world's largest gold ETF, SPDR Gold Trust, stand at 959.92 tons, with an increase of 1.43 tons from the previous trading day [5] - On August 26, spot gold surged, reaching a peak of $3393.67 per ounce, closing near this high at $3393.62, marking an increase of $28.02 or 0.83% [5] - The increase in gold ETF holdings marks the second consecutive day of growth, indicating a rising interest in gold as a safe-haven asset amid market uncertainties [5] Group 2 - Recent comments from former President Trump regarding the dismissal of Federal Reserve Governor Lisa Cook have raised concerns about the independence of the Fed, contributing to the rise in gold prices [6] - Analysts are focusing on the upcoming Personal Consumption Expenditures (PCE) price index data, which is expected to provide insights into the Fed's interest rate decisions [6] - Technical analysis suggests a bullish outlook for gold, with potential resistance levels at $3438 and $3450, while key support is identified at $3350 [6]