Group 1: Gold Market - Gold prices continue to attempt to stay above $3,370 [1] - Despite a rebound in the US dollar and rising US Treasury yields, gold prices have still increased [4] - If gold prices maintain above $3,360, they are expected to move towards the August high of around $3,400 [4] Group 2: Silver Market - Silver prices have retreated due to profit-taking after a strong rebound from recent lows [1][7] - If silver can close above $39.00, it will aim for resistance levels of $39.80 to $40.00 [7] Group 3: Platinum Market - Platinum failed to break through the strong resistance level of $1,345 to $1,350 and has fallen to the $1,330 level [1][9] - A drop below $1,330 will push platinum towards support levels of $1,300 to $1,305 [9]

Group 1 - The World Gold Council reported a global outflow of 19.1 tons from gold ETFs, valued at $1.83 billion, primarily driven by North American funds responding to changing tariff threats [1] - North American listed funds experienced an outflow of 15.6 tons of gold, worth $1.5 billion, as investor risk appetite improved due to better-than-expected temporary tariff relief between the US and China [1] - The report warns that the current neutral monetary policy stance of the Federal Reserve may pose headwinds for gold in the summer, although inflation concerns and unsustainable debt levels could mitigate these risks [1] Group 2 - European-listed ETFs saw a modest inflow of 1.6 tons, valued at $224 million, with France leading the inflow as investors sought protection amid economic slowdown and geopolitical uncertainties [2] - In Asia, there was a notable outflow of 4.8 tons from gold ETFs, valued at $489 million, marking the first outflow since November 2024, following a record demand in April [3] - The World Gold Council remains optimistic about gold's potential for appreciation, citing that inflation has not significantly increased due to global trade tensions and rising tariffs [3]

Group 1 - Moody's downgraded the U.S. sovereign credit rating, leading to a rise in U.S. Treasury yields and increased concerns over the U.S. debt burden and tax legislation [2] - Global equity funds experienced a net outflow of $9.4 billion last week, marking the first weekly outflow in six weeks, contrasting sharply with over $20 billion inflow the previous week [2] - U.S. equity funds led the outflows with redemptions totaling $11 billion, followed by Asian funds with $4.6 billion in redemptions, while European equity funds recorded a net inflow of $5.4 billion [5] Group 2 - Emerging market bond funds saw a net inflow of $403 million for the fourth consecutive week, continuing a positive trend, while emerging market equity funds experienced a slight outflow [8] - Despite the outflow in emerging market equity funds, they have attracted $10.6 billion year-to-date, representing a 43% increase compared to the same period last year [8] - Interest in emerging markets has been rekindled, partly due to concerns over the end of U.S. exceptionalism and a lack of clarity regarding U.S. ambitions and intentions [8]

国际黄金周三（5月14日）日K收跌，美市尾盘，国际黄金收报3176.49美元/盎司，下跌73.03美元或 2.25%，日内最高上探3256.87美元/盎司，最低触及3167.69美元/盎司。 美国商品期货交易委员会(CFTC)数据显示，截至5月14日，黄金ETF持有量为936.51吨，较上一交易日 持平。 黄金ETF最新持仓数据： 【上一交易日黄金行情解析】 金价昨日再度走低，第2次未能在收取的止跌形态下，进行看涨反弹。不过，ZZ指标早已显示触底，这 则暗示下方空间有限，下方关注3165美元一线支撑，以及60日均线支撑位置尝试看涨。 | 日期 | 净持仓量（盎司） | 净持仓量（吨） | 总价值（美元） | | --- | --- | --- | --- | | 2025-05-14 | 30109645.55 | 936.51 | 96093252112.56 | | 2025-05-13 | 30109645.55 | 936.51 | 97178252440.75 | （注：黄金ETF持仓增加，表明买盘增加，市场看涨黄金的情绪升温，利多黄金；黄金ETF持仓减少， 表明卖盘增加，市场看跌黄金的情绪升温，利 ...

Core Viewpoint - The rise in U.S. Treasury yields is concerning, indicating ongoing investor worries about U.S. debt and fiscal policy [1] Group 1: Market Reactions - U.S. stock markets, bond markets, and the dollar have faced a triple sell-off over several weeks due to tariff uncertainties [1] - Positive news regarding U.S. tariff agreements has boosted the stock market and the dollar, but has not positively impacted U.S. Treasury bonds [1] Group 2: Economic Implications - While tariff talks are expected to have a positive impact on economic growth, persistently high yield levels suggest that the fiscal trajectory in the U.S. remains troubling [1] - Ongoing budget negotiations in the U.S. Congress will be critical for the bond market [1]

Group 1 - The core viewpoint of the article highlights the rise in U.S. Treasury yields, indicating a steepening yield curve ahead of the Federal Reserve's upcoming meeting [1] - The increase in yields is influenced by recent employment data, which is constraining the Federal Reserve's monetary policy decisions [1] - Economists at Pimco predict that the Federal Reserve is unlikely to cut interest rates before later this year unless there is a significant slowdown or contraction in the labor market [1]