Group 1 - The current total holdings of the world's largest gold ETF, SPDR Gold Trust, stand at 948.5 tons, reflecting a decrease of 2.29 tons from the previous trading day [5] - On July 17, spot gold prices experienced fluctuations, reaching a low of $3,309.76 per ounce, the lowest level since July 10, before closing around $3,338.64 per ounce, down $8.68 or 0.26% [5] - The decline in gold ETF holdings is attributed to the drop in gold prices, which were influenced by market reactions to potential changes in the Federal Reserve leadership [5][6] Group 2 - Recent news indicated that President Trump might soon dismiss Federal Reserve Chairman Powell, which initially caused a spike in gold prices due to a drop in the US dollar, but this was quickly denied by Trump, leading to a price retreat [5] - The ongoing tension between Powell and Trump is expected to continue supporting the gold market, as potential candidates for the Fed chair position have expressed concerns about the Fed's credibility [5][6] - Economic data showed that US retail sales increased by 0.6% in June, reversing a two-month decline, indicating that consumer spending remains strong despite the impact of Trump's tariff policies [6] Group 3 - Technically, gold is trading within a range of $3,310 to $3,370, with an upward trend indicated by positive technical indicators [6] - Short-term resistance levels for gold are identified at $3,365 and $3,377, with a potential challenge to the $3,400 mark if these levels are breached [6] - Conversely, short-term support levels are at $3,320 and $3,000, with further declines potentially targeting $3,280 and $3,250, which is near the July low [6]

Group 1 - The core viewpoint is that the Federal Reserve is at a "transformational moment" in economic history [1] - There is a strong belief that the Federal Reserve should not continue with business as usual [1] - The Federal Reserve is facing a "credibility crisis" [1] Group 2 - There is a firm conviction in the independence of the Federal Reserve [1]