Core Viewpoint - The article highlights that gold prices have surged past $3,500 per ounce, reaching a new high, driven by expectations of interest rate cuts by the Federal Reserve. Multiple institutions predict a new upward trend for precious metals after a four-month period of stagnation, with Morgan Stanley setting a year-end target price for gold at $3,800 per ounce [1]. Group 1: Market Trends - Gold prices have recently surpassed $3,500 per ounce, marking a new record high [1]. - There is a forecast for precious metals to enter a new upward trend after four months of sideways movement [1]. - Morgan Stanley has raised its year-end target price for gold to $3,800 per ounce [1]. Group 2: Upcoming Economic Indicators - Key upcoming events to monitor include the release of the U.S. ADP employment numbers on September 4, the unemployment rate and non-farm payrolls on September 5, and the CPI year-on-year and month-on-month figures on September 11 [1]. - The "rate cut trade" by the Federal Reserve is expected to provide strong momentum for rising gold prices [1]. - It is anticipated that changes in U.S. monetary policy will support gold prices in the second half of the year, presenting potential allocation opportunities [1].

【上周铝铅期货市场行情及后市展望】上周铝价下探回升，沪铝主力合约周跌0.89%，伦铝收涨1.38% 至2638美元/吨。沪铝加权合约持仓量63.7万手，周环比减少5.5万手，期货仓单增至6.7万吨。 国内铝锭 库存环比增加2.6万吨，达49.2万吨；保税区库存环比减0.8万吨至11.6万吨；铝棒社会库存周环比减0.4 万吨，至15.6万吨，加工费低位运行。周五华东现货升水期货110元/吨，周环比上调180元/吨，铝价回 落改善消费情绪。 需求上，国内主要铝材企业开工率下滑，铝棒、铝板带等开工均走弱。外盘LME铝 库存周环比增3.1万吨至43.1万吨，Cash/3M贴水0.8美元/吨。 后市国内将发重点行业稳增长方案，商品 氛围偏暖，海外有美联储降息交易，情绪积极。国内铝锭库存低，但下游淡季、出口弱，库存或累积， 铝价或冲高但跟随为主。本周沪铝主力合约参考区间20400 - 21000元/吨，伦铝3M参考区间2550 - 2680 美元/吨。 周五沪铅指数收跌0.16%至16836元/吨，单边交易总持仓10.36万手。伦铅3S涨3至1977美元/ 吨，总持仓13.66万手。SMM1#铅锭均价16700元/吨，再 ...