Group 1 - The largest gold ETF, iShares Silver Trust, reported a holding of 979.96 tons of gold as of September 10, which is an increase of 0.28 tons from the previous trading day [1] - As of the market close on September 10, the spot gold price was $3680.40 per ounce, reflecting a 0.41% increase, with an intraday high of $3657.31 and a low of $3618.78 [1] Group 2 - The U.S. Producer Price Index (PPI) unexpectedly showed a significant decrease in August, leading traders to increase bets on a potential interest rate cut by the Federal Reserve [3] - A key Consumer Price Index (CPI) report is expected tonight, with the market anticipating a slight rebound; if it exceeds expectations, it may pose challenges for Fed Chair Jerome Powell [3] - Currently, the short position in gold is slightly favored [3]

Metal Market - As of the midday close, domestic base metals showed positive performance with Shanghai aluminum up 0.48%, copper up 0.59%, zinc up 0.36%, lead up 0.24%, while nickel fell 0.17% and tin rose 0.56% [1] - In the futures market, casting aluminum main contract rose 0.47%, alumina main contract rose 0.41%, lithium carbonate main contract rose 0.29%, and industrial silicon main contract continued its previous day's upward trend with a rise of 1.64% [1] - The black metal sector experienced a general decline, with iron ore down 1.18%, rebar down 0.71%, and stainless steel down 0.39% [1] Foreign Metal Market - As of 11:39, LME metals showed mixed results with copper down 0.16%, nickel down 0.3%, and tin down 0.31%, while aluminum rose 0.13% [1] - In precious metals, COMEX gold fell 0.27% and silver fell 0.06%, while Shanghai gold main contract fell 0.26% and Shanghai silver main contract rose 0.2% [1] Futures Market - The Euro line shipping main contract fell 4.08%, closing at 1219 points [2][3] - Various futures showed specific price movements, such as industrial silicon main contract up 1.64% and copper main contract up 0.59% [3] Spot Market and Fundamentals - In the copper market, Guangdong 1 electrolytic copper spot price showed a premium of 0-60 CNY/ton against the current month contract, with an average premium of 30 CNY/ton, down 10 CNY/ton from the previous trading day [4] - The People's Bank of China conducted a net injection of 794 billion CNY through reverse repos, maintaining the operation rate at 1.40% [4] Oil Market - As of 11:39, both WTI and Brent crude oil futures showed slight declines, with WTI down 0.11% and Brent down 0.1% [7] - The EIA reported an increase in U.S. crude oil inventories by 3.9 million barrels, contrary to analyst expectations of a decrease [7]

Group 1 - Deloitte predicts that U.S. retail sales growth during the winter holiday season will hit a new low since the pandemic, with expected growth of 2.9-3.4%, significantly lower than last year's 4.2% due to economic uncertainty, inflation, and trade policies [1] - The European Central Bank (ECB) has a 60% probability of a final 25 basis point rate cut in December, contingent on a more severe slowdown in the labor market and inflation falling significantly below targets due to declining energy prices and a stronger euro [1] - Danske Bank analysts highlight that the U.S. August PPI will be closely watched as it precedes the August CPI release and may provide early clues on the accumulation of tariff-related costs [2] Group 2 - InTouch Capital Markets analysts suggest that a 50 basis point rate cut by the Federal Reserve would require core inflation data to be significantly below expectations, but the likelihood of a large cut remains low due to sticky service prices and the Fed's gradual policy approach [2] - City Index strategists warn that a 50 basis point rate cut by the Federal Reserve could potentially harm market confidence more than it would benefit, indicating that the Fed is likely to avoid appearing to yield to political pressure [2] - Leuthold Group strategists argue that the Fed's 2% inflation target should be viewed as a reference point rather than a strict constraint, noting that a slightly higher inflation rate could coexist with stable growth [3]

Group 1 - The core viewpoint indicates that while the July CPI year-on-year rate in the US was below expectations, the core CPI reached its highest level since February, suggesting inflationary pressures remain significant [1][2] - The July PPI year-on-year rate significantly exceeded market expectations, indicating stronger-than-anticipated producer price inflation, which could influence future monetary policy decisions [2] - The market is largely anticipating a 25 basis point rate cut by the Federal Reserve in September, influenced by the recent economic data [1][2] Group 2 - Key upcoming events include the trilateral talks between the US, Russia, and Ukraine on August 18, and the release of the Federal Reserve's monetary policy meeting minutes on August 21 [3] - The Jackson Hole global central banking conference will take place from August 20 to August 23, with Fed Chair Powell scheduled to speak on August 22 [3] - Economic indicators to watch include initial jobless claims data for the week ending August 16, which is expected to show a slight decrease in claims [3]

Group 1 - The core viewpoint of the article indicates that the recent market sell-off is just the beginning, with a significant focus on upcoming economic indicators and Federal Reserve signals [1][2] Group 2 - The U.S. Producer Price Index (PPI) for July saw a month-on-month increase from 0.00% to 0.9%, which annualizes to nearly 11%, a substantial figure that cannot be overlooked [2] - The market's expectation for a Federal Reserve interest rate cut in September has decreased from 100% to approximately 85%, indicating a shift in market sentiment and potentially leading to capital outflows [2] - The U.S. dollar index experienced a 1.4% drop on the day of the non-farm payroll data, but only a 0.4% increase on the day of the PPI release, suggesting that market participants are still in a wait-and-see mode [2] - The article emphasizes that the true market direction will likely be established within 48 hours following Federal Reserve Chairman Jerome Powell's speech at the Jackson Hole conference, marking a critical turning point for market sentiment [2]

新华财经北京8月14日电数据显示，受服务成本飙升的推动，美国7月PPI环比增速达到三年以来的最高 水平。 美国劳工统计局周四公布的报告显示，7月PPI较上月上涨0.9%，为2022年6月以来最大增幅；较上年同 期上涨3.3%，大幅超出市场预期的2.5%，为2月以来高位。不包括食品、能源和贸易服务的核心PPI较6 月上涨0.6%，较上年同期上涨2.8%。 服务成本上涨1.1%，为2022年3月以来最大增幅。这显示出美国企业并未消化与关税相关的更高进口成 本。报告显示，尽管上半年需求趋缓，企业仍在调整商品和服务的定价，以帮助抵消美国更高关税带来 的成本。 数据公布后，交易员减少了对美联储将在9月降息的押注。 （文章来源：新华财经） ...

金十数据7月17日讯，金价周四下跌，因在美国总统特朗普表示"极不可能"解除美联储主席鲍威尔的职 务后，美元上涨且市场紧张情绪缓解，令金价承压。Reliance Securities高级商品分析师 Jigar Trivedi表 示："由于有关美联储主席职位的不确定性有所缓解，随着美元重拾涨势，黄金下跌至3330美元/盎司附 近。"此外，昨日数据显示，美国6月生产者物价指数(PPI)意外持平，因为进口关税导致的商品成本上 升，被服务需求的疲软所抵消。Trivedi称："6月份美国PPI读数持平，表明批发价格稳定，关税对经济 的影响可能小于最初担心的程度。" 分析师："解雇鲍威尔"风波暂缓 金价有所回落 ...

Core Viewpoint - The May PPI data in the U.S. showed a mild impact from costs of goods and services, with core PPI figures falling short of expectations, indicating potential price pressures in the second half of the year due to high tariffs and corporate profit margin concerns [1] Group 1: PPI Data Insights - The May PPI data revealed an expansion in profit margins for wholesalers and retailers, particularly in the automotive and machinery sectors, following a decline in April [1] - Year-to-date profit margins have shown fluctuations, highlighting the uncertainty of trade policies on prices and demand [1] Group 2: Economic Indicators - Analysts are closely monitoring the PPI report as certain components are used to calculate the Fed's preferred inflation measure, the PCE data [1] - Areas of weakness in May included declines in airfare prices, investment management fees, and moderate healthcare costs [1] - The PCE report is expected to be released later this month, which will provide further insights into inflation trends [1]

Group 1 - The article highlights the upcoming release of the US Producer Price Index (PPI) for May and the initial jobless claims for the week of June 7 [1]