Core Viewpoint - The establishment of the first board of directors of the Hong Kong Gold Exchange marks a significant milestone in the precious metals market, with 皇御贵金属 (Huangyu Precious Metals) celebrating its AA-level membership and commitment to safety and transparency in operations [1][9]. Compliance and Trust - The AA license in Hong Kong serves as a compliance "pass" and a "filter" for the precious metals industry, with 皇御贵金属 maintaining a compliant and stable operation despite high capital thresholds, compliance costs, and technical investments [3]. Transparency and Verification - The company provides real-time disclosure of spreads, market conditions, and transaction depth on its website, along with certification of trading codes from the Hong Kong Gold Exchange, allowing clients to verify order details [4]. Speed and Efficiency - 皇御贵金属 emphasizes a fast trading experience with quick order execution and dedicated personnel for fund deposits and withdrawals, ensuring efficient transactions year-round [5]. Security and Trustworthiness - The company employs a multi-dimensional security system, holding the highest AA-class trading license from the Hong Kong Gold Exchange, ensuring legal operations in various gold trading activities while maintaining high security and transparency for clients [6]. Ecosystem and Accessibility - 皇御贵金属 has launched low-threshold spot gold trading services and a one-stop trading system to facilitate asset diversification and digital transformation for investors, alongside an educational platform to enhance market understanding [8]. Recognition and Future Outlook - With numerous prestigious awards, 皇御贵金属 invites global investors to choose its AA-level qualifications, representing a century of regulatory backing, and aims to collaborate with the Hong Kong Gold Exchange to create new opportunities in gold investment [9].

Group 1 - The core event was the inauguration of the first board of directors of the Hong Kong Gold Exchange, marking a significant milestone for the future development of the precious metals market in Hong Kong [1][3] - The Hong Kong Gold Exchange aims to become a global hub for gold and commodity trading, focusing on "gold digitalization and tokenization" as part of its modernization strategy [3][4] - The exchange is committed to creating a more efficient and transparent trading ecosystem, leveraging its 115 years of history and expertise [3][4] Group 2 - The company, Huangyu Precious Metals, is recognized as the highest-level AA member of the Hong Kong Gold Exchange, emphasizing its commitment to safety, transparency, and speed in trading services [4][5] - Huangyu Precious Metals employs advanced technology to ensure zero-latency trading and 24/7 global market connectivity, enhancing the trading experience for investors [4][5] - The company is focused on providing tailored electronic services for different types of investors, including professional and novice traders, through intelligent trading systems and mobile platforms [4][5] Group 3 - The Hong Kong Gold Exchange's first board of directors is expected to further solidify Hong Kong's position as an international gold hub, with Huangyu Precious Metals playing a key role in this transformation [7] - The collaboration between Huangyu Precious Metals and the Hong Kong Gold Exchange aims to establish Hong Kong as a "gold digital financial center," enhancing the investment landscape through technological advancements [7]

Core Viewpoint - The London Bullion Market Association (LBMA) reported a decline in gold and silver fixing prices on August 12, with gold priced at $3,343.30 per ounce and silver at $37.690 per ounce, indicating a decrease from the previous trading day [1] Group 1 - The LBMA gold fixing price on August 12 was $3,343.30 per ounce, down from $3,347.55 per ounce earlier that day [1] - The LBMA silver fixing price on August 12 was $37.690 per ounce, a decrease from the previous day's price of $37.755 per ounce [1]

Core Viewpoint - In the ultra-high-net-worth investment sector, there is a shift from passive gold holdings to active participation in physical gold trading among wealthy families in Asia, driven by rising gold prices and a desire for more direct involvement in the market [2][3][4]. Group 1: Investment Strategies - Some family offices are bypassing intermediaries and engaging directly in gold trading, providing financing, transportation, and resale services [3]. - Cavendish Investment Corp has allocated about one-third of its investment portfolio to physical gold trading, moving beyond traditional index-tracking funds [3]. - Wealthy families are exploring gold leasing, earning returns of 3% to 4% by lending their physical gold to local jewelers [7][10]. Group 2: Market Dynamics - Gold demand has surged due to geopolitical tensions, inflation, and central bank policy missteps, with gold prices rising nearly 30% this year [4][5]. - A survey by HSBC indicates that the allocation of gold among wealthy investors in Hong Kong has more than doubled within a year, while mainland China's allocation increased from 7% to 15% [4]. - The current market is characterized as a seller's market, with expectations of continued price increases, as indicated by forecasts from Deutsche Bank and Goldman Sachs [8][14]. Group 3: Regional Insights - Asian families have a deeper cultural understanding of gold, viewing it as a business opportunity rather than just an investment [7]. - The Hong Kong gold market is supported by mainland China, with the establishment of an offshore gold vault to facilitate global transactions [9]. - Compliance issues exist, as only two refineries in Hong Kong are LBMA certified, which may complicate sourcing gold from regions like Kenya [9]. Group 4: Profitability and Risks - Cavendish and its partners can earn a premium of 5% to 10% on each round trip of gold transportation [15]. - There are concerns that the current gold price surge may not be sustainable, potentially affecting demand from price-sensitive buyers in major markets like China and India [13][14]. - The profitability of gold trading is attracting more participants, with expectations of increased competition in the market [16].

Group 1 - The international gold price has surpassed the 3400 mark, reaching a two-week high, driven by escalating global trade tensions and expectations of interest rate cuts by the Federal Reserve [1] - Analysts indicate that the activity level in the precious metals market has significantly increased, with different trading sessions exhibiting distinct characteristics [1] - The trading dynamics vary across sessions: the Asian session often experiences fluctuations due to geopolitical news, the European session sees increased capital inflow, and the American session is prone to significant volatility due to Federal Reserve policy movements [1] Group 2 - Precious metals are global assets with trading sessions covering Asia, Europe, and America, forming a 24-hour continuous trading system [2] - The ability to operate flexibly across different trading sessions directly impacts investors' opportunities to capture safe-haven asset allocations [2] - A reputable spot gold platform must provide trading windows that synchronize with global markets, which is a key measure of the platform's professionalism [2] Group 3 - Different trading sessions exhibit distinct market rhythms, necessitating high demands for order execution speed and capital flexibility on trading platforms [3] - Gold盛贵金属 supports MT4 & MT5 platforms, ensuring high-speed order execution and flexible trading operations across all sessions [3] - The platform's capital flow efficiency is highly aligned with trading sessions, offering instant deposit and two-hour withdrawal services to meet investors' capital adjustment needs [3] Group 4 - Transparency and security are core concerns for investors in the long trading hours and complex market of precious metals [4] - 金盛贵金属, as an AA class member of the Hong Kong Gold Exchange, provides transaction codes for trades over 0.1 lots, allowing for verification on the exchange [4] - The platform employs international standard online coding technology and SSL encryption to safeguard customer data and transaction security during 24-hour trading [4] Group 5 - New investors in gold should choose reputable platforms, verifying their regulatory qualifications and transaction coding [7] - Familiarity with the characteristics of different trading sessions is crucial, as the Asian session is less volatile and suitable for practice, while the American session is more volatile and requires position control [7] - Utilizing stop-loss tools is essential, and maintaining rational judgment is particularly important during periods of market volatility [7]

Group 1 - The core viewpoint of the articles highlights the significant impact of the weak U.S. non-farm employment data on the financial markets, leading to a surge in gold prices and a high probability of interest rate cuts by the Federal Reserve [1][3] - The U.S. added only 73,000 jobs in August, with the unemployment rate rising to 4.2%, marking the worst performance of the year [1] - Gold prices soared by 2.23% in a single day, surpassing the $3,360 mark, reaching a new weekly high [1] Group 2 - Four key drivers are influencing the gold market: the imminent interest rate cuts, ongoing geopolitical tensions, continuous central bank gold purchases, and the rising U.S. debt levels [3][4] - The actual yield on 10-year U.S. Treasury bonds has dropped to a historical low of 0.51%, reducing the opportunity cost of holding gold [3] - Global gold demand reached 1,249 tons in Q2, a 3% year-on-year increase, with a 45% surge in value terms, setting a historical record [3] Group 3 - The technical outlook for gold indicates a potential upward movement, with prices currently above $3,350 and targeting the $3,400 resistance level [4] - A breakthrough above $3,450 could lead to further increases towards $3,500 or even $3,700, while the current phase is characterized by strong support from short-term moving averages and bullish sentiment [4] - The upcoming trading competition by Lingfeng Precious Metals offers a platform for investors to engage in the gold market, with a prize pool exceeding $1 million [6]

8月11日贵金属市场呈现分化态势，现货黄金与现货白银价格走势出现明显差异。现货黄金在触及3400美元关口后出现回调，而现货白银则延续下跌趋势， 跌破38美元重要支撑位。这一价格变动反映了市场对不同贵金属品种的风险偏好存在差异，同时也体现了各自独特的供需基本面特征。 现货白银在8月11日的表现相对疲弱，价格向下触及38美元关口，日内跌幅达到1%，报收于37.93美元。白银价格的下跌幅度明显超过黄金，显示出更高的 价格敏感性。这种表现与白银的双重属性密切相关，既具备贵金属的避险功能，又承担着工业金属的角色。 白银市场的技术分析显示，38美元成为关键支撑位。价格跌破该水平后，下一个重要支撑位位于37.5美元附近。如果白银能够重新站稳38.50美元上方，则有 望向39.80-40.00美元阻力区间发起冲击。当前白银价格的波动反映了市场对工业需求前景的担忧，以及获利回吐操作的影响。 来源：金融界 现货黄金在8月11日的交易中表现出较强的波动性。价格一度向上触及3400美元关口，日内涨幅达到0.17%，随后出现快速回调。短线内黄金价格大幅下挫 16美元，从高位迅速回落至3383.04美元附近。这种剧烈的价格波动主要受到市 ...

Core Viewpoint - The Shanghai Gold Exchange issued a notification on August 8 to enhance market risk control due to various factors causing instability, urging members to improve risk awareness and maintain market stability [1] Group 1: Market Reactions - On August 8, during the Asian trading session, COMEX gold prices surged to a historical high of $3534.1 per ounce before experiencing a decline after news regarding U.S. tariffs on gold bars [1] - Following a White House official's statement on August 8, which indicated plans to clarify misinformation regarding tariffs on gold bars, COMEX gold prices fell, closing at $3458.2 per ounce, up 0.13% [1] Group 2: Tariff Implications - Reports indicated that the U.S. government imposed tariffs on 1-kilogram gold bars, a common trading form in the global gold futures market, which surprised market participants who expected exemptions [1] - Morgan Stanley's former precious metals trader noted that the imposition of tariffs on gold was unexpected, as gold typically circulates among central banks and reserves without such impacts [1] Group 3: Federal Reserve Developments - The recent nomination of Stephen Moore to the Federal Reserve Board by President Trump is seen as a significant development, potentially influencing trade policy during Trump's second term [1] - Morgan Stanley's research predicted a 25 basis point rate cut by the Federal Reserve in September, followed by three additional cuts, citing signs of weakness in the U.S. labor market and uncertainties surrounding the Fed's leadership [1] - The Federal Reserve maintained its target range for the federal funds rate at 4.25% to 4.50% during its last monetary policy meeting on July 30, with Christopher Waller being a leading candidate for the Fed chair position [1]

Core Viewpoint - The article discusses the recent fluctuations in the gold market, driven by various factors including U.S. tariffs on gold bars and changes in the Federal Reserve's personnel, which have created uncertainty and volatility in gold prices [2]. Group 1: Market Conditions - On August 8, the Shanghai Gold Exchange issued a notice emphasizing the need for risk control in light of recent market instability, urging members to enhance risk awareness and maintain market stability [2]. - During the Asian trading session on August 8, COMEX gold prices surged to a record high of $3534.1 per ounce before experiencing a sharp decline later in the day [2]. Group 2: Tariff Impact - Reports indicated that the U.S. government imposed tariffs on 1-kilogram gold bars, a common trading form in the New York Commodity Exchange, which surprised market participants who expected exemptions [2]. - A White House official announced plans to clarify misinformation regarding the taxation of gold bars, which led to a temporary drop in COMEX gold prices [2]. Group 3: Federal Reserve Developments - The recent nomination of Stephen Moore to the Federal Reserve Board by President Trump has raised concerns about potential changes in trade policy, contributing to market uncertainty [2]. - Morgan Stanley's report predicts a 25 basis point rate cut by the Federal Reserve in September, followed by three additional cuts, citing signs of weakness in the U.S. labor market [2].

金条也不能豁免关税 纽约黄金期货价格创新高 卜晓明 美国纽约商品交易所12月交割的黄金期货价格8日亚洲早盘上涨至每盎司3534.10美元，创历史新高。 美联储7月30日结束为期两天的货币政策会议，宣布将联邦基金利率目标区间维持在4.25%至4.50%之间 不变。沃勒在会上投票支持降息25个基点。（完）（新华社专特稿） 除关税因素外，美国联邦储备委员会最新人事变动同样支撑金价，令美元承压。美国总统特朗普向美联 储安插"自己人"，无异于为"鸽派"阵营增加了砝码。 特朗普7日宣布，提名白宫经济顾问委员会主席斯蒂芬·米兰出任美联储理事一职，以填补美联储理事阿 德里安娜·库格勒突然辞职留下的空缺。米兰被认为是影响特朗普第二个总统任期贸易政策的关键人物 之一。 摩根大通在7日发布的研报中预测，美联储9月可能降息25个基点，随后再三次降息各25个基点，然后暂 停降息。理由是美国劳动力市场现疲弱迹象，以及美联储主席提名引发的不确定性。 研报同样写道，美联储理事克里斯托弗·沃勒现在是美联储主席最热门人选。研报称这一人事变动可能 受金融市场欢迎。 前一天，英国《金融时报》报道说，美国政府已对重量1公斤的进口金条施加关税。报道说， ...