投资咨询业务资格：证监许可【2012】669号 中信期货研究|贵⾦属策略⽇报 2025-6-11 中美经贸磋商继续，黄金持稳 中美经贸磋商机制首次会议将继续进行，市场静待美国CPI数据， 黄金持稳。 重点资讯： 1）美国商务部长卢特尼克(Howard Lutnick)告诉记者，正在伦敦举 行的美中贸易会谈进展良好，预计将持续至周二全天。 2）加州官员周一指责美国总统特朗普动用国民警卫队加剧了洛杉矶 本已紧张的局势，而白宫则认为，此次暴力示威活动证明有必要加大 驱逐非法移民的力度。 持续的美中贸易谈判是当前市场关注的绝对焦点，其结果将极大影响 美元走势和投资者避险情绪，进而左右金价。同时，中国最新公布的 5月对美出口数据创疫情以来最大跌幅（-35%），凸显了贸易环境的 变化。市场密切关注谈判进展是否能真正缓解紧张关系并促进全球经 济增长，且等待周三美国CPI通胀数据对未来利率路径的指引。 展望：周度COMEX黄金关注【3200,3450】，周度COMEX白银关注【32, 35】。 风险提示：中美贸易谈判，特朗普政策超预期 宏观研究团队 研究员： 朱善颖 从业资格号 F03138401 投资咨询号 Z002142 ...

Group 1 - The U.S. stock indices fell across the board due to Trump's new tariff policy, with U.S. Treasury yields also declining and the dollar index dropping [1] - Gold prices rose significantly as investors sought safe-haven assets amid escalating trade tensions, with June gold futures closing at $3,365.80 per ounce, up 2.15% [1] - The international gold price saw a cumulative increase of 5.6% for the week, marking the largest weekly gain in six weeks [1] Group 2 - Trump announced a proposal to impose a 50% tariff on goods from the EU starting June 1, causing significant declines in European stock indices, with major indices dropping over 2% [4] - The German DAX index fell to its lowest level in two weeks, reaching a low of 23,325.5 points during the trading day [4] - Trump indicated that a 25% tariff would be imposed on mobile manufacturers not producing in the U.S., specifically targeting Apple and Samsung [5][6]

Group 1 - International gold prices fell over 1.2% on the 16th, with a cumulative decline of nearly 4.7% for the week, marking the worst weekly performance in six months [1] - The decline in gold prices is attributed to the positive progress in US-China trade talks and a decrease in investor risk aversion, as well as profit-taking by investors after recent highs [2] - In the oil market, international oil prices rose on the 16th, with a weekly increase of over 2%, driven by easing concerns over potential increases in oil supply amid ongoing US-Iran nuclear negotiations [1] Group 2 - The main contract prices for West Texas Intermediate (WTI) and Brent crude oil futures saw increases of approximately 1.4% on the 16th, with WTI futures up 2.41% and Brent futures up 2.35% for the week [1] - The easing of global trade tensions is expected to boost oil demand, contributing to the upward trend in oil prices [1]