Core Viewpoint - The ongoing negotiations between the US and Iran are critical for the precious metals market, with potential volatility expected based on the outcomes of these discussions [1][2]. Group 1: Market Analysis - Zhongcai Futures indicates that the focus for precious metals in the short term is on the US-Iran negotiations on the 26th, where a lack of breakthroughs could lead to increased military pressure from the US, heightening market risk aversion [1]. - If Iran concedes during negotiations, risk aversion may quickly dissipate, negatively impacting precious metals [1]. - Funi Futures notes that the ongoing tensions between the US and Iran, along with internal political struggles in the US, are driving up demand for safe-haven assets, supporting the rise in precious metal prices [2]. Group 2: Price Trends and Predictions - Guotai Junan Futures suggests that the market is currently pricing in the impact of Trump's tariffs, with a recent rebound in gold and silver ETF holdings reflecting increased demand for precious metals amid rising uncertainties [2]. - The expectation is for precious metal prices to experience high-level fluctuations, with potential for a 2-4 month period of consolidation to build new momentum for breaking previous highs [2]. - The overall long-term outlook for gold remains bullish due to global political and economic uncertainties, despite short-term profit-taking pressures and a stable dollar index [2].

Group 1 - Gold prices are currently experiencing a bullish trend, trading around $5197.59 per ounce, following a period of consolidation to build upward momentum for future gains [1] - Nvidia reported record revenue of $68.1 billion for its fiscal Q4 2026, a year-on-year increase of approximately 70%, with its data center business contributing over 90% of revenue [1] - Nvidia's strong earnings, with adjusted EPS growing over 80% and gross margin rising to 75.2%, alleviated market concerns regarding AI profitability, leading to a rebound in tech stocks and a slight weakening of the dollar, which supported gold prices [1] Group 2 - Technically, gold prices have rebounded after touching a key support level, maintaining a bullish outlook while remaining above the 5-month moving average [2] - The recent breakout above the $5100 resistance level is seen as a key trigger for bullish momentum, with support expected around $5150 and $5100 [2] - Immediate resistance is noted at $5220, with a clear breakthrough potentially opening the path to $5260, signaling renewed bullish momentum [3]