Group 1 - The UK government is considering retaliatory measures in response to the EU's proposed steel tariff increases, which could lead to the largest crisis in the domestic metal industry [3] - The EU plans to cut existing foreign steel tariff-free quotas by nearly half and double the tax on excess quotas to 50% [3] - The UK government is exploring stronger trade measures to protect its steel producers from unfair practices while addressing the issue of overcapacity in the industry [3] Group 2 - Current gold futures are trading around 922.76 yuan per gram, with a decline of 0.87%, and have fluctuated between a high of 935.52 yuan and a low of 919.34 yuan [1] - The core trading range for gold is expected to be between 910-930 yuan per gram, with a critical support level at 915 yuan [1] - Monitoring the breakout at 920 yuan per gram is essential, along with adjustments based on the fluctuations of the US dollar index [1]

Group 1 - The core viewpoint is that the recent dovish trade signals from the Trump administration are reshaping the dollar pricing logic, leading to a decline in the dollar index and a shift in risk asset preferences [1][3] - The dollar index has dropped to 99.65, down 0.25% from the opening price of 99.90, indicating a dual battle of "policy expectation reversal" and "technical resistance" [1] - The Trump administration's shift in attitude towards the Federal Reserve, moving from criticism to a more cooperative stance, is seen as reducing systemic risks related to political interference in monetary policy [3] Group 2 - Analysts note that the relationship between the White House and the Federal Reserve is improving, which is strengthening the Fed's policy independence and raising market expectations for maintaining high interest rates for a longer period [3] - CME interest rate futures indicate that traders have reduced their bets on the number of rate cuts by the Fed this year from 2 times to 1.5 times, suggesting a revaluation of the dollar's interest rate advantage [3] - The dollar index is at a critical juncture; if it can break through the 100.00 level and stabilize above the downward trend line, it could open an upward channel towards the 101.50-102.00 range [3]