Report Investment Ratings - Gold: ★★★, indicating a clearer upward trend and relatively appropriate investment opportunities currently [1] - Silver: ★★★, suggesting a clearer upward trend and relatively appropriate investment opportunities currently [1] Core Views - Overnight, precious metals continued to fluctuate. The number of job openings in the US in April was higher than expected and the previous value. This week, there is a dense release of US economic data, with a focus on the non - farm payrolls report on Friday. Additionally, attention should be paid to the US Trade Court's ban on Trump's tariffs and the progress of various negotiations. The international gold price should maintain the idea of buying on dips, relying on the strong support at $3000. Today, focus on the US ADP employment data and ISM non - manufacturing PMI for May [1] Summary by Related Topics Tariffs - The Trump administration raised steel and aluminum tariffs to 50%, effective on the 4th. - Sources said that the US put forward a "tough" list of requirements to Vietnam in tariff negotiations. - Sources indicated that the EU did not receive a letter from the US asking for the "best trade offer". - The Brazilian President stated that if an agreement on tariffs with the US cannot be reached, Brazil will appeal to the WTO or take reciprocal measures. - The India - EU free trade agreement is accelerating, with nearly half of the issues having reached a consensus [2] Fed - Logan believes that the focus should be on achieving the 2% inflation target rather than trying to make up for past inflation shortfalls. - Bostic still thinks there may be one interest rate cut this year [2] Economic Forecast - The OECD lowered its GDP growth forecast for the US in 2025 to 1.6% (previously 2.2%) and for 2026 to 1.5% (previously 1.6%) [2]