Core Viewpoint - The chief economist of Chuan Cai Securities, Chen Li, suggests that if the market interprets the Federal Reserve's signals as limiting future rate cuts, gold prices may face significant downward pressure [1] Group 1: Market Analysis - Chen Li believes that the recent fluctuations in gold prices since October are more of a technical correction following a rapid increase rather than a trend reversal [1] - Gold is still considered a valuable asset class for allocation, primarily for risk hedging and long-term preservation of value, rather than short-term speculation [1] Group 2: Investment Recommendations - For ordinary investors, it is advised to limit the allocation weight of gold and related assets to between 5% and 10% of total assets [1]

Group 1 - The external environment has shown disturbances, leading to a slight increase in risk aversion, with significant rises in London gold prices driven by political and economic fluctuations in Europe and the US, causing a decline in investor confidence in sovereign debt [1] - The A-share market experienced a technical correction last week, influenced by these external factors, while the US stock market showed less volatility due to strong technology sector performance [1] - Last week, the market saw adjustments with the Shanghai Composite Index fluctuating, breaking below the 20-day moving average mid-week but recovering above it by Friday, while the Shenzhen Component Index outperformed, closing above the 5-day moving average [1] Group 2 - The market is currently undergoing technical consolidation after a continuous upward trend, with the Shanghai Composite Index showing signs of accelerated upward movement after surpassing the 2021 market peak, although profit-taking has emerged, indicating a divergence between bulls and bears [2] - Despite short-term fluctuations, the medium-term trend remains unchanged, with continued buying momentum expected, suggesting that structural market opportunities may still be anticipated [2]

Group 1 - The core viewpoint of the articles indicates that the recent significant pullback in cryptocurrency prices, particularly Bitcoin and Ethereum, is driven by a combination of macroeconomic expectations and technical factors [1][5][6] - Bitcoin reached a historical high of $124,500 on August 14, but fell below $115,000 by August 19, with a 24-hour decline of nearly 3%, while Ethereum dropped below $4,300, experiencing a decline of over 6% in the same period [1][2] - The overall market saw a liquidation of $332 million in cryptocurrency contracts within 24 hours, affecting over 100,000 traders, with the largest single liquidation occurring at Bitmex valued at $7.825 million [2][3] Group 2 - The pullback is attributed to the U.S. Producer Price Index (PPI) rising 3.3% year-on-year in July, which led to a decrease in the market's expectation for a Federal Reserve rate cut from 98% to 84%, thereby reducing the attractiveness of risk assets [5][6] - Historical data suggests that significant downturns in Bitcoin and Ethereum prices are often not caused by a single negative factor but are the result of a combination of tightening macro liquidity, policy pressures, and industry credit risks [3][4] - Analysts suggest that the current price decline aligns more with a normal correction within an upward trend rather than a trend reversal, indicating a healthy market adjustment rather than a significant downturn [6][7]

Group 1 - The international gold price is currently trading around $3421.86, with a slight decline of 0.14% as of the latest update, indicating a bearish short-term trend [1] - The highest price reached was $3438.54, while the lowest was $3421.86 during the trading session [1] - Technical analysis suggests that the gold price faced resistance around the $3401 level and is undergoing a technical correction [4] Group 2 - A significant support level is identified at the Bollinger middle band around $3386 and a trendline support zone between $3382-83, which has shown strong support effectiveness [4] - The market may experience a second downward test before the US trading session, but the downside potential is limited due to the support cluster around $3380 [4] - Key resistance levels to watch are between $3445-3455, while short-term support is noted in the $3415-3405 range [5]