Report Summary 1. Report Industry Investment Ratings - Gold: Not clearly defined in the given content - Silver: ★★★, representing a clearer upward trend and a relatively appropriate investment opportunity currently [1][4] 2. Core Viewpoints - Overnight, precious metals fluctuated with large intraday swings. Fed Chair Powell's speech at Stanford University did not cover the economic situation and monetary policy. After silver reached a new all - time high, its upward momentum slowed. Before gold breaks through the previous high resistance, precious metals as a whole should be treated as in a fluctuating state, and chasing high prices is not advisable. Platinum has a supply shortage this year, and its historical supply - demand is expected to be in a tight balance, with platinum performing stronger than palladium. Attention should be paid to tonight's US ADP employment and ISM non - manufacturing PMI data [1] 3. Other Information from Related News - Trump said the US will soon launch a land strike against drug - trafficking groups [2] - Putin threatened to cut off Ukraine's sea lanes, vowed to strengthen strikes on Ukrainian facilities and ships. He said Russia cannot accept the European "peace plan amendment" and is ready for war if Europe wants one. Putin held a nearly 5 - hour meeting with a US envoy, and the Russian side said the meeting was fruitful and both sides agreed not to disclose the essence of the negotiation [2] - The OECD maintained its global economic growth forecasts for this year and next, and expects the interest - rate cut cycle of major economies to end next year [2]

IMF预计，发达经济体今明两年增速均为1.6%，预计美国今明两年经济增速分别为2.0%和2.1%，较7月 预测值上调0.1个百分点。预计新兴市场和发展中经济体在今明两年的经济增速分别为4.2%和4.0%。维 持对中国今年经济增速4.8%的预测不变。（第一财经记者 葛唯尔） 10月14日，国际货币基金组织（IMF）在世行和IMF年会期间发布《世界经济展望报告》。报告称，鉴 于关税上涨的实际影响迄今小于预期，预计今年全球经济增速为3.2%，较7月预测值上调0.2个百分点， 2026年增速为3.1%，与前值持平。 ...

Group 1 - The International Monetary Fund (IMF) has significantly raised China's economic growth forecast for this year by 0.8 percentage points to 4.8%, reflecting stronger-than-expected economic activity in the first half of the year and lower actual tariff rates compared to previous predictions [1][1][1] - The global economic growth forecasts for this year and next year have been adjusted to 3.0% and 3.1% respectively, with increases of 0.2 and 0.1 percentage points from the previous April predictions [1][1][1] - Developed economies are expected to achieve a growth rate of 1.5%, up by 0.1 percentage points from previous estimates, with the U.S. economy projected to grow by 1.9% [1][1][1] Group 2 - Emerging markets and developing economies are forecasted to grow at a rate of 4.1%, which is an increase of 0.4 percentage points from earlier predictions [1][1][1] - Trade dynamics continue to dominate the global economic outlook, with some positive developments in trade negotiations providing support for global economic resilience, despite high historical tariff levels and significant policy uncertainty [1][1][1]