Core Viewpoint - The Shanghai Gold Exchange reported an increase in both gold and silver T+D prices on July 21, with gold rising by 0.69% and silver by 1.65% [1] Group 1: Gold Market - The gold T+D price closed at 781.5 yuan per gram on July 21 [1] - The increase in gold price indicates a positive trend in the gold market [1] Group 2: Silver Market - The silver T+D price closed at 9372.0 yuan per kilogram on July 21 [1] - The rise in silver price reflects a growing interest in silver investments [1]

上海黄金交易所黄金T+D 7月21日（周一）晚盘盘初上涨0.34%报778.8元/克； 上海黄金交易所白银T+D 7月21日（周一）晚盘盘初上涨0.56%报9272.0元/千克。 黄金延期 白银延期 ...

Group 1: Precious Metals - Spot platinum (XPTUSD) is priced at 1446.940, increasing by 24.700 or 1.74% [2] - Spot palladium (XPDUSD) is priced at 1294.303, increasing by 14.188 or 1.11% [2] - Gold (COMEX) is priced at 3373.100, increasing by 17.400 or 0.52% [2] - Silver (COMEX) is priced at 38.845, increasing by 0.420 or 1.09% [2] Group 2: Foreign Exchange - Euro to USD (EURUSD) is at 1.165, increasing by 0.20% [4] - GBP to USD (GBPUSD) is at 1.346, increasing by 0.37% [4] - USD to JPY (USDJPY) is at 147.755, decreasing by 0.72% [4] - AUD to USD (AUDUSD) is at 0.651, increasing by 0.11% [4] - USD to CHF (USDCHF) is at 0.800, decreasing by 0.15% [4] Group 3: Cryptocurrencies - Bitcoin is priced at 118578.140, increasing by 1313.020 or 1.12% [5] - Litecoin is priced at 118.370, increasing by 1.780 or 1.53% [5] - Ethereum is priced at 3811.020, increasing by 54.330 or 1.45% [5] - Ripple (XRP) is priced at 3.552, increasing by 0.099 or 2.86% [5] Group 4: Treasury Bonds - The yield on the 2-year U.S. Treasury bond is at 3.848 [7] - The yield on the 5-year U.S. Treasury bond is at 3.913, decreasing by 0.048 or 1.21% [8] - The yield on the 10-year U.S. Treasury bond is at 4.376, decreasing by 0.055 or 1.24% [8] - The yield on the 30-year U.S. Treasury bond is at 4.950, decreasing by 0.049 or 0.98% [8] - The yield on the 10-year UK Treasury bond is at 4.627, decreasing by 0.047 or 1.01% [8] - The yield on the 10-year German Treasury bond is at 2.633, decreasing by 0.059 or 2.19% [8] - The yield on the 10-year French Treasury bond is at 3.329, decreasing by 0.068 or 2.00% [8] - The yield on the 10-year Italian Treasury bond is at 3.510, decreasing by 0.068 or 1.90% [8] - The yield on the 10-year Japanese Treasury bond is at 1.522, decreasing by 0.037 or 2.37% [8]

Group 1: Market Dynamics - Gold prices have been fluctuating around $3353.97 per ounce as of July 21, 2025, following a historical high of $3343 in April, with a year-to-date increase of over 25% but a 4% decline from the June peak of $3500 [1] - Global gold ETFs (SPDR and iShares) increased their holdings by 131 tons in three months, equivalent to 3.58% of the 2024 global gold mine production, while the People's Bank of China has increased its gold reserves for eight consecutive months, reaching 7.39 million ounces by the end of June [1] - The market is experiencing a dichotomy between institutional buying and retail investor caution, reflecting complex dynamics regarding Federal Reserve policy shifts and geopolitical risks [1] Group 2: Influencing Factors - The market is affected by the pendulum effect of policy expectations, with the anticipated number of interest rate cuts by the Federal Reserve decreasing from four to two, leading to a rebound in the dollar index [3] - Geopolitical risks, particularly in the Middle East, have caused significant price fluctuations, with gold reaching $3420 on June 13 before dropping to $3265 after a ceasefire agreement between Israel and Iran [3] - A record 92% of surveyed central banks plan to increase gold holdings in the next 12 months, indicating a trend towards "de-dollarization" amid a global debt exceeding $350 trillion, positioning gold as a necessity for asset allocation [3] Group 3: Company Strategies - Gold盛贵金属 has differentiated itself in a volatile market with a low spread of $0.15 per ounce and a zero-commission policy, reducing trading costs by 30% compared to industry averages [4] - The company utilizes MT4/MT5 platforms for rapid transactions, achieving a 99.8% order execution success rate during significant price fluctuations, demonstrating its capability for millisecond-level response [4] - As a member of the Hong Kong Gold Exchange, Gold盛贵金属 ensures transaction security through unique transaction codes and SSL encryption, receiving a "zero defect" rating in compliance checks by the Hong Kong Monetary Authority in 2024 [4] Group 4: Conclusion - The current gold market is characterized by significant volatility influenced by Federal Reserve policy changes and geopolitical risks, necessitating a reliable trading platform for investors [5] - Gold盛贵金属 is reshaping the precious metals trading industry through a three-dimensional system of cost optimization, technological empowerment, and compliance assurance [5][6]

Group 1 - The Federal Reserve is experiencing increasing policy divergence, with market expectations for a September rate cut at 56.2%, anticipating a 25 basis point reduction, while 41.2% believe rates will remain unchanged [3] - Several Federal Reserve officials have expressed differing views, with some adopting a hawkish stance and others leaning towards a rate cut within the year [3] - Federal Reserve Governor Waller has emerged as a leading internal candidate to succeed Powell as chairman, particularly given his clear support for rate cuts this year [3] Group 2 - Gold has been fluctuating within the range of 3375 to 3310, showing weak continuation in both bullish and bearish trends, with significant volatility observed [5] - After failing to break through the 3375 level, gold has experienced a substantial pullback to the support level of 3310, and is currently rebounding towards the 3370 mark [5] - The strategy for gold trading includes buying near 3330 with a target of 3345-3353 and selling near 3370 with a target of 3355-3345, indicating a cautious approach to market movements [6] Group 3 - Crude oil has faced pressure at the high of 78, dropping to the support level of 66, and has been in a weak consolidation phase below 70 [8] - There are signs of bottoming out within the 65-70 range, but confirmation of a reversal will require a breakout above the 70 level [8] - The current strategy suggests trading within the 66-70 range, with clear breakout points to follow for further trading decisions [8]

Core Viewpoint - The Shanghai Gold Exchange reported trading data for July 21, indicating a shift in payment direction for deferred compensation fees in gold and silver contracts [1] Group 1: Trading Data - The payment direction for Au(T+D) is "long pays short," indicating that long positions are paying short positions [1] - The payment direction for Ag(T+D) is "short pays long," suggesting that short positions are paying long positions [1] - The trading data was compiled from the period of July 18, 20:00 to July 19, 2:30, and from July 21, 9:00 to 15:30 [1]

Core Insights - The Shanghai Gold Exchange reported an increase in gold T+D prices, closing at 777.0 CNY per gram, reflecting a rise of 0.72% on July 21 [1] - The Shanghai Gold Exchange also noted an increase in silver T+D prices, closing at 9226.0 CNY per kilogram, with a rise of 0.62% on the same day [1] Summary by Category - **Gold Market** - Gold T+D prices increased by 0.72% to 777.0 CNY per gram on July 21 [1] - **Silver Market** - Silver T+D prices rose by 0.62% to 9226.0 CNY per kilogram on July 21 [1]

上海黄金交易所黄金T+D 7月21日（周一）早盘盘初上涨0.42%报774.66元/克； 上海黄金交易所白银T+D 7月21日（周一）早盘盘初上涨0.29%报9196.0元/千克。 黄金延期 白银延期 ...

Core Viewpoint - The Shanghai Gold Exchange reported an increase in both gold and silver T+D prices on July 18, with gold rising by 0.42% and silver by 0.09% [1] Group 1: Gold Market - The closing price for gold T+D on July 18 was 774.66 yuan per gram, reflecting a 0.42% increase [1] Group 2: Silver Market - The closing price for silver T+D on July 18 was 9177.0 yuan per kilogram, showing a 0.09% increase [1]

Group 1 - The Shanghai Gold Exchange's gold T+D rose by 0.53% to 775.5 yuan per gram on July 18 [1] - The Shanghai Gold Exchange's silver T+D increased by 0.7% to 9233.0 yuan per kilogram on July 18 [1]