Core Viewpoint - Recent fluctuations in gold prices have led some investors to sell for profit, resulting in a decline of approximately 1.26% in gold prices. However, strong demand persists, particularly from central banks, indicating that the gold bull market is not over yet [1]. Group 1: Market Trends - Gold prices have recently experienced a continuous rise, prompting profit-taking among investors [1]. - Central banks purchased 53 tons of gold in October, reflecting robust demand [1]. - The Hong Kong First Gold platform suggests that despite potential volatility due to rapid price increases, the gold bull market remains intact, recommending strategic buying on dips [1]. Group 2: Trading Strategies - In the current high-level market, the strategy is to avoid chasing prices and focus on key support levels for potential buying opportunities [2]. - Key resistance levels are identified at the $4264-$4250 range, while support levels are at $4200-$4180 and $4160 [2]. - Short-term strategies include considering light long positions if prices pull back to the $4200-$4180 range and show bullish candlestick patterns [3]. Group 3: Long-term Investment Approach - A "buy on dips" strategy is recommended for long-term positions, treating each pullback as an opportunity for accumulation [4]. - Initial accumulation should begin at the $4180-$4200 support area, with further purchases at lower levels if prices decline [4]. Group 4: Economic Data Focus - Upcoming economic data includes the U.S. November ADP employment report and the delayed September PCE price index, which are crucial for market sentiment regarding interest rate adjustments and may influence gold price volatility [5].

Core Viewpoint - The possibility of the Chinese yuan appreciating further against the US dollar, potentially breaking the 7 yuan mark, is highlighted by the Chief Economist of China Bank Securities, Guan Tao [1] Group 1: Factors Influencing Yuan Appreciation - A weak US economy, potential interest rate cuts by the Federal Reserve, and a general decline in market confidence towards the US dollar are key factors that could drive the yuan's appreciation [1] - The potential for a second-phase trade agreement between China and the US, similar to the one during Trump's first term, could also enhance market confidence and support yuan appreciation [1] Group 2: Refutation of Currency Manipulation Claims - Guan Tao refutes claims that China is deliberately devaluing its currency to boost exports, stating that the trend of the yuan's multilateral exchange rate is a result rather than a goal [1]