Core Viewpoint - The article emphasizes that the expectation of interest rate cuts by the Federal Reserve, reinforced by Powell's statements, is likely to drive gold prices higher in the future [1][5]. Market Performance - Gold prices opened at $3,336.80 per ounce at the beginning of the week, experienced a low of $3,311.56 on Wednesday, and closed at $3,371.62, marking a weekly increase of $34.82 or 1.04% [3][5]. - The weekly trading range for gold was $66.8, indicating volatility in the market [3]. Influencing Factors - Powell's remarks at the Jackson Hole symposium have strengthened market expectations for a rate cut in September, despite acknowledging risks in the job market and persistent inflation pressures [5][6]. - The potential for increased tariffs on furniture products by Trump and ongoing uncertainties surrounding the Russia-Ukraine peace talks are also seen as supportive factors for gold prices [1][5]. Future Outlook - The article suggests that gold is expected to maintain a bullish trend over the next year, with potential to reach historical highs around $4,200 per ounce, despite current fluctuations within the $3,200 to $3,440 range [6][8]. - The likelihood of two rate cuts by the Federal Reserve this year and a more dovish monetary policy in the coming year are anticipated to further support gold prices [5][6]. Technical Analysis - The gold price has recently tested the 100-day moving average support and is expected to continue its upward trajectory following this adjustment [10]. - Key support levels to watch include $3,270 and $3,220, while resistance levels are identified at $3,386 and $3,400 [10].

Core Viewpoint - The U.S. Department of Commerce announced a 93.5% anti-dumping duty on imported anode-grade graphite from China, resulting in an effective tax rate of up to 160%, citing that these materials are sold below fair market value [1][3]. Group 1: Impact on Imports and Market - The new tariff will affect approximately $340 million (around 2.44 billion RMB) worth of imports based on 2023 import volumes [3]. - In the previous year, the U.S. imported 180,000 tons of graphite products, with two-thirds sourced from China [3]. - The International Energy Agency (IEA) highlighted that graphite remains a critical mineral with potential supply risks [3]. Group 2: Implications for Battery Manufacturers - The imposition of a 160% tariff is expected to increase the average cost of automotive power batteries by $7 (approximately 50.2 RMB) per kilowatt-hour, potentially eroding battery manufacturers' profits for one to two quarters [3]. - The American Active Anode Material Producers Association had previously warned that increased tariffs on imported anode materials could significantly impact companies like Tesla and Panasonic, which rely on these materials for battery and electric vehicle production in the U.S. [3]. Group 3: Broader Context of U.S.-China Trade Relations - Since the beginning of the year, the U.S. has intensified export controls on critical minerals and battery technologies from China, aiming to reduce dependency on Chinese goods and technologies [3]. - In May, the U.S. Department of Commerce initiated an independent countervailing investigation into Chinese anode-grade graphite, citing "unfair subsidies" [3].