Core Viewpoint - Typhoon "Phoenix" is approaching China's southeastern coast, expected to bring heavy rain and strong winds from November 11 to 13, particularly affecting Zhejiang, Fujian, and Taiwan [2][6]. Weather Impact - The typhoon will enhance rainfall in eastern Guangdong to Fujian and Zhejiang, with the most extensive rain expected on November 12, leading to heavy to torrential rain in parts of Zhejiang and southwestern Taiwan [3][9]. - Strong winds are anticipated in eastern and southern coastal areas, with wind speeds reaching 9 to 11 levels and gusts up to 14 levels in the vicinity of the typhoon's center [6]. Emergency Response - Over 5.5 million people have been evacuated in Fujian Province, and all fishing vessels in the region have returned to port [7][11]. - Fujian's emergency response to the typhoon has been elevated to Level II, with 69 passenger ferry routes suspended and 180 passenger ferries halted [13][14][16]. Safety Measures - The Fujian Maritime Safety Administration has deployed emergency response resources, including patrol boats and rescue helicopters, to ensure rapid response to any maritime incidents [16].

Group 1 - The core viewpoint of the report is that due to three copper mine incidents globally this year, the supply-demand gap for copper is expected to widen by 2026, indicating significant upward potential for copper prices [1] - Morgan Stanley identifies Zijin Mining as the best choice in the sector, with an expected compound annual growth rate (CAGR) of 10.5% for copper production and 7.3% for gold production from 2025 to 2028 [1] - The company has effective cost control measures, utilizing advanced autonomous geological exploration technology and self-developed equipment, resulting in average mining costs significantly lower than industry levels [1] Group 2 - Morgan Stanley has initiated coverage on Zijin Mining with a target price of HKD 46.1 for H-shares and CNY 42.2 for A-shares, both rated as "Buy" [1] - The firm anticipates an increase in copper prices in 2025 and 2026, while gold prices may rebound after recent adjustments, with a forecast of reaching USD 4,500 per ounce by mid-2026 [1]

Core Viewpoint - The SPDR Gold Trust, the world's largest gold ETF, has seen a significant increase in holdings, reaching 954.8 tons, with a notable rise of 7.74 tons in a single trading day, indicating strong investor interest in gold amid economic uncertainties [6]. Group 1: Gold ETF Holdings - As of July 22, the total holdings of the SPDR Gold Trust stand at 954.8 tons, reflecting a substantial increase of 7.74 tons from the previous trading day [6]. - Over the past two trading days, the cumulative increase in gold ETF holdings has exceeded 10 tons, highlighting a growing trend in gold investment [6]. Group 2: Gold Price Movement - On July 22, spot gold prices rebounded for the second consecutive day, reaching a peak of $3433.53 per ounce, the highest since June 16, and closing at $3431.66 per ounce, up $34.73 or 1.02% [6]. - The price of gold is currently above all major simple moving averages (SMA), with the 14-day relative strength index remaining firmly above the midpoint, indicating a bullish trend [7]. Group 3: Economic Factors Influencing Gold - The decline of the US dollar index has been a significant driver for the rebound in gold prices, influenced by uncertainties surrounding trade agreements between the US and other economies such as Japan and the EU [6]. - Concerns over the US economic growth outlook, exacerbated by tariff uncertainties, have led investors to seek refuge in gold, further supporting its price [6]. Group 4: Technical Analysis - Following a strong breakout above the $3400 mark, gold prices are expected to target static resistance at around $3440, with a potential move towards the historical high of $3500 [8]. - Should there be a correction, gold may test the $3377 level, with support likely found around the $3330 area, which coincides with the 21-day and 50-day moving averages [8].

Core Viewpoint - The article discusses the impact of risk aversion on gold prices and questions the sustainability of short-term rebounds in the market [1] Group 1 - Risk aversion is currently supporting gold prices, indicating a potential increase in demand for safe-haven assets [1] - The article suggests that the short-term rebound in gold prices may face challenges in maintaining momentum [1]

Core Viewpoint - Gold prices have experienced a significant rebound, increasing by over $40, indicating potential further upward movement if certain resistance levels are breached [1] Group 1 - The recent surge in gold prices suggests a strong market reaction, with a focus on key resistance levels that could dictate future price movements [1] - Analysts are monitoring specific thresholds that, if surpassed, may open up additional space for price recovery in the gold market [1]

Core Insights - The absence of President Putin from discussions has been identified as a significant factor influencing gold prices, leading to a nearly $100 increase from the day's low [1] Group 1 - Gold prices have experienced a substantial rebound, raising questions about whether this increase is a temporary trap or a genuine turning point for the market [1]