Group 1 - The core viewpoint of the articles revolves around the impact of U.S. tariffs on gold prices and the anticipation of the upcoming U.S. CPI data, which is expected to influence market sentiment and gold trading strategies [1][2]. - Gold experienced a volatile trading session, reaching a high of $3374 before closing at $3343, indicating a cautious market ahead of significant economic data releases [1][2]. - The announcement of tariffs by Trump on the EU has created a supportive environment for gold, although the EU's restrained response has alleviated some market fears [1][2]. Group 2 - Technical analysis suggests that gold is currently in a corrective phase, with key support levels at $3340-3350 and resistance at $3370-3375, indicating potential price movements based on the U.S. dollar's performance [2]. - The upcoming U.S. CPI data is critical, with expectations of a core CPI year-on-year increase of 3%, which could either strengthen or weaken gold prices depending on the actual results [1][4]. - Recommendations for trading gold include short positions at $3368-3370 with a stop loss at $3375, targeting lower levels around $3340-3300, while also considering long positions if prices stabilize above $3375 [3].

马来西亚贸易部长：本周将与美国就关税问题进行另一次会谈，力争在8月1日的截止日期前达成协议。 ...

Core Viewpoint - The expectation of a stronger US CPI is likely to exert downward pressure on gold prices, while potential pullbacks may present buying opportunities [1][5][6]. Market Performance - On July 14, international gold opened high at $3363.64 per ounce, reached a three-week high of $3374.55, but ultimately closed at $3343.27, down $14.49 or 0.43% from the previous close [1]. - The trading range during the day was between $3353 and $3375, with a daily fluctuation of $33.66 [1]. Economic Indicators - The market is anticipating the release of the US June CPI data, which is expected to show an increase, indicating stronger inflation and potentially reducing the likelihood of Fed rate cuts, thereby negatively impacting gold prices [5][6]. - The average tariff rate between China and the US has increased significantly from 3% to 145% from 2018 to 2025, contributing to ongoing market uncertainties [5]. Technical Analysis - The monthly chart indicates that gold prices are in a high-level consolidation phase, with potential risks of a decline to $3000 or $2600 if key support levels are breached [8]. - Current trends remain above the 5-month moving average, suggesting a sustained bullish outlook unless this support is broken [8]. - The weekly chart shows gold prices maintaining above the mid-band, with indicators suggesting a potential for a pullback but still presenting buying opportunities near support levels [10]. Trading Strategy - Suggested trading levels include support at $3339 or $3330 and resistance at $3355 or $3365 for gold, while silver has support at $38.00 or $37.65 and resistance at $38.60 or $39.00 [11].

据央视新闻报道，美国总统特朗普表示，美方将就关税问题与各国展开磋商，并且对包括欧洲在内的贸 易谈判持开放立场。与此同时，欧盟方面也将前来与美方讨论贸易问题。特朗普还称，目前美方已达成 一些贸易协议。近日，特朗普先后致信20多个国家领导人，称将从8月1日起对这些国家征收新关税。他 还宣布，从8月1日起对所有进口到美国的铜征收50%的关税。 ...

特朗普：（在关税问题上）始终对包括欧洲在内的谈判持开放态度。 ...

特朗普：将就关税问题与各国对话。 ...

巴西部长：巴西政府仍在就关税问题进行初步磋商。 ...

需要加强国会对美联储建筑的监督。 不会对"我出任美联储主席"进行猜测。 美国白宫经济委员会主任Hassett：美联储在关税问题上"非常错误"。 必须重新思考美联储行动的方式。 ...

美国白宫国家经济委员会主任哈塞特：美联储在关税问题上"非常错误"。 ...

Group 1 - The report indicates that the bond market is currently experiencing adjustments due to a self-correction of excessive risk appetite, with significant fluctuations observed from July 9 to 11, where daily adjustments exceeded 1 basis point [1][22][25] - Despite the frequent negative rotations in the bond market, key variables influencing the market direction, such as fundamentals, central bank attitudes, and external circulation pressures, have not changed [1][25][37] - The report highlights that the bond market's pricing reference may shift from the stock market to fundamentals as economic data is released, indicating a weak correlation between stock market rebounds and bond market pricing [3][36] Group 2 - The report notes that the recent adjustments in the bond market have led to the 10-year and 30-year government bonds returning to relatively high positions at 1.65% and 1.85%, respectively, making the market more sensitive to positive news and less responsive to negative news [4][37] - It emphasizes that the liquidity situation will be a critical observation period for the central bank's attitude, especially with a significant funding gap expected in mid-July [4][26][39] - The report suggests that despite recent increases in funding prices, overnight rates remain relatively low, indicating that leverage strategies may still be preferred in July [6][39][40] Group 3 - The report discusses the impact of recent adjustments in the bond market, where the duration of bond funds has decreased, reflecting a shift in market behavior as institutions reduce their duration amid tightening liquidity [6][24][25] - It also mentions that the government bond issuance volume remains above 400 billion, indicating ongoing government financing activities [6][21] - The report highlights that the leverage ratio in the non-bank sector has decreased significantly, indicating a market-wide trend towards deleveraging [6][24] Group 4 - The report outlines the recent changes in the interest rate environment, with the overnight rates rising to 1.40% and 1.51% for R001 and R007, respectively, indicating a tightening liquidity situation [15][25][26] - It notes that the recent adjustments in the bond market have led to a significant increase in the issuance rates of certificates of deposit, reflecting rising costs for banks [29][30] - The report also highlights the ongoing adjustments in the credit bond market, particularly in the long-end segment, where yields have been affected by negative rotations [17][16] Group 5 - The report indicates that the recent changes in tariffs by the U.S. government may have implications for global trade dynamics, with increased tariffs on key countries potentially impacting the bond market [31][32] - It suggests that the market is currently cautious regarding tariff changes, with a wait-and-see approach being adopted by investors [31][32] - The report emphasizes that the bond market's response to external factors, such as tariffs, may not be immediate, and investors are advised to monitor developments closely [31][32]