Group 1 - The U.S. government has added uranium, copper, and silver to its list of critical minerals, indicating an expansion of commodities deemed essential for the economy and national security [3] - The updated list from the U.S. Geological Survey also includes metallurgical coal, potash, rhenium, silicon, and lead, replacing the 2022 version [3] - This list will inform the Section 232 investigation announced by the Trump administration in April, which may lead to tariffs and trade restrictions on critical minerals and their derivatives [3] Group 2 - The U.S. government shutdown has entered its 37th day, with many federal employees facing unpaid status, and military personnel receiving only partial pay [3] - Senator John Kennedy has indicated that the shutdown may continue for some time and plans to propose a bill to suspend congressional salaries during the shutdown [3] Group 3 - Gold futures are currently trading at 918.68 yuan per gram, with a slight increase of 0.44%, reaching a high of 922.84 yuan and a low of 912.00 yuan [1] - Key resistance levels for gold futures are identified between 927 yuan and 1020 yuan per gram, while important support levels are between 896 yuan and 960 yuan per gram [4]

Core Viewpoint - The article highlights the fluctuations in gold and silver prices, with gold rebounding by 1.28% to $3982.32 per ounce, while silver saw a rise of 1.93% to $48.0704 per ounce, indicating a volatile market influenced by economic reports [1]. Price Movements - Spot gold experienced a rebound of 1.28%, reaching $3982.32 per ounce, before slightly declining to a daily low of $3929.93, followed by a sustained upward trend [1]. - COMEX gold futures increased by 0.81%, settling at $3992.60 per ounce [1]. - Spot silver rose by 1.93%, priced at $48.0704 per ounce, while COMEX silver futures gained 1.38%, reaching $47.945 per ounce [1]. - COMEX copper futures also saw an increase of 0.84%, priced at $4.99 [1]. Economic Indicators - The ADP employment report and the ISM non-manufacturing index did not significantly impact market volatility, suggesting that other factors may be influencing the current price movements in precious metals [1].

Core Viewpoint - In October, Zhengzhou Commodity Exchange (ZCE) identified and processed 15 cases of abnormal trading behavior, indicating increased regulatory scrutiny in the market [1] Summary by Categories Abnormal Trading Behavior - ZCE processed a total of 15 cases of abnormal trading behavior in October, which included 12 instances of self-dealing and 3 cases of frequent order cancellations [1] Regulatory Actions - ZCE has issued regulatory warnings to clients who met the criteria for abnormal trading behavior through their member units, reflecting a proactive approach to market regulation [1]

Core Viewpoint - The Intercontinental Exchange (ICE) agricultural futures saw a majority of contracts decline, indicating a bearish trend in the agricultural commodities market [1] Group 1: Price Movements - Raw sugar futures fell by 3.00%, closing at 14.21 cents per pound [1] - Cotton futures decreased by 0.81%, ending at 65.15 cents per pound [1] - Cocoa futures experienced a slight increase of 0.41%, reaching $6,586.00 per ton [1] - Coffee futures dropped by 0.25%, closing at 405.65 cents per pound [1]

Core Viewpoint - The Zhengzhou Commodity Exchange has announced an adjustment to the cancellation date for silicon iron and urea products in February 2026 due to insufficient trading days [1] Group 1 - The cancellation date for silicon iron and urea products in February 2026 will now be set to the last trading day of that month [1] - This decision is based on the 2026 holiday schedule, which results in fewer than 15 trading days in February [1] - Future occurrences of similar situations will follow this announcement without further notice [1]

Core Viewpoint - The recent fluctuations in gold prices are seen as a technical correction rather than a trend reversal, with analysts maintaining a long-term optimistic outlook on gold as a valuable asset in uncertain macroeconomic conditions [1][3][9]. Market Performance - Since 2025, international gold prices have consistently broken historical highs, leading to a surge in gold bar sales in China, with consumption reaching 264.24 tons in the first half of the year, a 23.69% increase year-on-year [2]. - As of October 31, the London gold spot price hovered around $4,000 per ounce, down approximately 8% from its monthly peak [3]. - The Chicago Mercantile Exchange reported that the gold futures market in October exhibited healthier performance compared to previous periods, with significant trading activity and new positions being established despite volatility [6][7]. Investor Behavior - Retail investors are increasingly returning to the gold market, with trading volumes for micro gold contracts and one-ounce futures contracts more than doubling [7]. - The current market dynamics show a rare phenomenon where both the stock market and gold prices are rising simultaneously, attracting diverse market participants [7]. Economic Factors - Analysts attribute the recent gold price adjustments to several factors, including a rapid previous increase in prices, rising dollar rates, and easing geopolitical tensions [3][4]. - The Federal Reserve's recent policy decisions, including a 25 basis point rate cut, have influenced market sentiment, although a hawkish tone from the Fed has tempered expectations for ongoing monetary easing [4][5]. Long-term Outlook - Analysts believe that while short-term risks exist, the long-term outlook for gold remains positive, with the potential for gold to serve as a hedge against inflation and economic uncertainty [9][10]. - The role of gold in asset allocation is evolving, with it increasingly seen as a substitute for sovereign debt in risk management strategies [8][10].

Core Viewpoint - The Intercontinental Exchange (ICE) agricultural futures showed mixed performance on October 30, with sugar and cotton futures declining while cocoa and coffee futures experienced gains [1] Group 1: Futures Performance - Raw sugar futures fell by 1.18%, closing at 14.25 cents per pound [1] - Cotton futures decreased by 1.39%, ending at 65.09 cents per pound [1] - Cocoa futures rose by 0.48%, reaching $6073.00 per ton [1] - Coffee futures increased by 0.41%, closing at 392.30 cents per pound [1]

Core Viewpoint - The domestic futures night market opened with significant declines in several commodities, while soybean futures showed an increase [1] Group 1: Commodity Performance - Methanol, aluminum oxide, copper, glass, coking coal, and caustic soda all fell by over 1% [1] - Soybean futures (specifically soybean No. 2) rose by over 1% [1]

Core Viewpoint - The Intercontinental Exchange (ICE) saw a broad increase in agricultural futures, indicating a positive trend in commodity markets [1] Group 1: Sugar Futures - Raw sugar futures rose by 0.42%, closing at 14.43 cents per pound [1] Group 2: Cotton Futures - Cotton futures increased by 1.38%, closing at 65.95 cents per pound [1] Group 3: Cocoa Futures - Cocoa futures experienced a rise of 0.80%, closing at $6050.00 per ton [1] Group 4: Coffee Futures - Coffee futures climbed by 1.06%, closing at 392.00 cents per pound [1]

Group 1 - The recent significant pullback in gold prices is occurring against the backdrop of anticipated interest rate cuts by the Federal Reserve, suggesting that investors may be missing a "discounted buying" opportunity [1] - Ryan McIntyre from Sprott emphasizes that while price corrections are inevitable, the long-term growth logic for gold remains unchanged due to the erosion of global trust systems, driving the market towards independent assets not tied to any institution [1] - Current gold prices have seen a decline of nearly 9% since reaching a historical closing high of $4359.4 on October 20, yet there is still a year-to-date increase of approximately 51% [1] Group 2 - The CME FedWatch indicates a high probability of a 25 basis point rate cut by the Federal Reserve, which could extend the bullish narrative for gold as lower interest rates favor non-yielding assets [2] - Historical trends support market expectations for further rate cuts, with gold prices previously rebounding after initial declines following rate cuts [2] - Structural factors supporting gold prices include high fiscal debt, central bank gold purchases, policy uncertainty, and the correlation with U.S. equities, positioning gold as a hedge against extreme losses [2] Group 3 - Aakash Doshi suggests that the probability of gold prices rising to $5000 is higher than falling to $3000, indicating that the gold market has undergone a repricing [3] - McIntyre advises investors lacking exposure to gradually build positions in gold to mitigate timing risks, recommending a target weight of 10% for gold in investment portfolios [3] - Broader strategic views suggest that the allocation of gold (including physical and ETFs) should be maintained within a range of 5% to 20% [3]