Group 1 - Gold futures are currently trading around 816.76, with a reported price of 815.74 yuan per gram, reflecting a 1.42% increase, and a high of 816.78 yuan per gram and a low of 802.50 yuan per gram observed [1] - The short-term outlook for gold futures appears bullish, indicating potential upward momentum in the market [1] Group 2 - Trump's administration plans to request a swift ruling from the Supreme Court regarding tariff policies, emphasizing the urgency of obtaining a decision [3] - The presence of alternative legal frameworks, such as the Smoot-Hawley Tariff Act, allows for the imposition of tariffs up to 50% for a duration of five months, which supports market confidence in the continuity of Trump's tariff policies [3] - Key resistance levels for gold futures are identified between 818 yuan per gram and 860 yuan per gram, while significant support levels are noted between 803 yuan per gram and 850 yuan per gram [3]

Core Viewpoint - The U.S. Treasury Secretary, Janet Yellen, stated that reforms for Fannie Mae and Freddie Mac will take place after the trade and tax reform agenda is addressed [1] Group 1 - The timing of the reforms for Fannie Mae and Freddie Mac is contingent upon the completion of trade and tax reforms [1] - The focus on these reforms indicates a strategic prioritization within the U.S. government's economic agenda [1]

Investment Rating - The report indicates a potential rollback of Trump's tariff agenda, which could significantly impact the investment landscape in the trade sector [2][4][12]. Core Insights - The recent court ruling temporarily halts a significant portion of Trump's tariff agenda, which could reduce the effective U.S. tariff rate from nearly 27% to below 6% [4][8]. - Trump's administration plans to continue defending its trade policies in higher courts, indicating a commitment to maintaining tariffs despite legal challenges [3][7]. - The ruling has introduced uncertainty into global trade dynamics, as Trump's fluctuating tariff policies have already caused unrest among international trading partners [11][12]. Summary by Sections Legal Developments - A federal appeals court has temporarily blocked a ruling that would overturn many of Trump's tariffs, providing a glimmer of hope for the administration [2][5]. - The court's decision could lead to a significant reduction in tariffs, impacting various sectors reliant on imports [4][8]. Administration's Response - Trump's team expresses confidence in overcoming legal hurdles and plans to explore alternative legal avenues to impose tariffs [7][17]. - The administration is considering other options for implementing tariffs, although these may take longer to execute [13][14]. Economic Implications - The potential reduction in tariffs could lead to economic stagnation, as the effective tariff rate drops significantly [8][11]. - The ongoing legal disputes may inject further uncertainty into the global economy, affecting trade negotiations and relationships with partners [11][12].

Group 1 - The White House press secretary Levitt stated that the trade agenda is moving forward [1]