Group 1 - The 10-year U.S. Treasury yield fell nearly 15 basis points, reaching a daily low of 4.2237%, after briefly rising to a daily high of 4.4060% just ten minutes before the U.S. non-farm payroll report was released [1] - The 2-year Treasury yield dropped approximately 24 basis points, hitting a daily low of 3.7124%, and remained around the 3.95% level prior to the non-farm payroll report [1] - The U.S. dollar index decreased by 1.2%, settling at 98.67 points [1] Group 2 - The S&P 500 index experienced a decline of 1.74%, while the Dow Jones dropped 684 points, reflecting a 1.54% decrease [1] - The Nasdaq fell by 495 points, marking a 2.34% drop, and the Philadelphia Semiconductor index decreased by 3.13% [1] - The Russell 2000 index also saw a decline of 2.39% [1]

Group 1 - The U.S. non-farm payroll report for July will be released at 20:30 Beijing time [1]

Group 1 - The core viewpoint of the article highlights the upcoming U.S. non-farm payroll report for July, with expectations of an increase of 110,000 jobs, a rise in the unemployment rate to 4.2%, and an annual wage growth of 3.8% [1][4] - Despite a strong overall employment report in June, the labor market shows signs of cooling due to cautious economic outlook and reduced labor supply, with private sector hiring slowing down [3][4] - The unemployment rate is expected to slightly increase to 4.2%, influenced by lower labor force participation rates, particularly among foreign-born workers, which may prevent a sharp rise in unemployment even as hiring demand declines [4] Group 2 - The July non-farm payroll is estimated to have increased by approximately 110,000, down from the 147,000 increase in June, attributed to the timing of the survey week and a pullback in government hiring [3][4] - Average hourly wage growth is projected to remain stable, with a 0.2% increase in July and a year-on-year growth of 3.7% [4] Group 3 - The article also discusses the neutral outlook for the EUR/USD and GBP/USD currency pairs, indicating potential resistance and support levels for traders [5][8]

Core Viewpoint - The article highlights the recent performance of spot gold and silver, indicating a positive trend in their prices over the week, with gold reaching a peak before a notable drop following the U.S. non-farm payroll report [1]. Group 1: Gold Market - Spot gold increased by 0.33%, closing at $3,337.15 per ounce, with a weekly gain of 1.92% [1]. - The price of gold experienced a steady rise from Monday to Tuesday, followed by fluctuations at high levels from Wednesday to Friday [1]. - The peak price during the week was $3,365.80 per ounce, observed during the early Asian session on Thursday [1]. Group 2: Silver Market - Spot silver rose by 0.34%, ending at $36.9690 per ounce, with a cumulative weekly increase of 2.72% [1]. - Similar to gold, silver also showed a trend of continuous upward movement throughout the week [1].

Core Viewpoint - The SPDR Gold Trust, the world's largest gold ETF, reported a holding of 947.66 tons of gold as of July 2, 2025, reflecting a decrease of 0.57 tons from the previous trading day. The gold price rebounded to a six-day high of $3,360.05 per ounce, closing at $3,356.90, up $18.2 or 0.55% [6]. Group 1: Gold ETF Holdings - As of July 2, 2025, SPDR Gold Trust's total holdings stand at 947.66 tons of gold [6]. - The holdings decreased by 0.57 tons compared to the previous trading day [6]. Group 2: Gold Price Movement - On July 2, 2025, spot gold prices reached a high of $3,360.05 per ounce, marking the highest level in six days [6]. - The closing price was $3,356.90 per ounce, reflecting an increase of $18.2 or 0.55% [6]. Group 3: Market Influences - Gold prices remained below $3,350 due to a stronger dollar and concerns over U.S. tariffs and the "Big Beautiful Plan" [6]. - The unexpected decline of 33,000 in the U.S. ADP employment figures for June raised concerns about the labor market, increasing bets on two rate cuts by the Federal Reserve by the end of 2025 [6][7]. Group 4: Future Employment Data - The market is focused on the upcoming U.S. non-farm payroll report, with UBS predicting an increase of only 100,000 jobs and a potential rise in the unemployment rate to a new high since 2021 [7]. - If the employment data is weak, the Federal Reserve may act to cut rates as early as July [7]. Group 5: Technical Analysis - Analysts suggest that gold remains at high levels due to trade uncertainties, geopolitical tensions, a weaker dollar, and increasing central bank purchases, although the upward momentum may be nearing its limit [7]. - The resistance level for gold is at the 23.6% Fibonacci retracement level of $3,377, with the June 23 high of $3,397 as a target for buyers [8]. - Support levels are identified at the 50-day moving average of $3,320, with further support at the 38.2% Fibonacci level of $3,297 and below June lows near $3,250 [8].

Group 1 - The article highlights the upcoming release of the U.S. non-farm payroll report for April, which includes employment figures and the unemployment rate [1]