Core Viewpoint - The precious metals market is experiencing unprecedented complexities in 2025, influenced by global economic uncertainties and geopolitical tensions, with gold prices fluctuating around $3,400 per ounce and silver reaching a 13-year high [1] Group 1: Federal Reserve Policy Shift - The Federal Reserve's decision to maintain interest rates in June has led to rising expectations for rate cuts later in the year, with a 77% probability of a 25 basis point cut in September [3] - A shift to a looser monetary policy would weaken the dollar and reduce the opportunity cost of holding gold, benefiting its price [3] - Gold's anti-inflation properties are expected to become more pronounced if the 10-year U.S. Treasury yield exceeds 4.2% [3] Group 2: Geopolitical Risks - Escalating tensions in the Middle East, particularly between Israel and Iran, have increased demand for gold as a safe-haven asset, with gold ETF inflows reaching their highest levels since the 2022 Russia-Ukraine conflict [4] - Gold's role as a crisis hedge is being reinforced by these geopolitical uncertainties, prompting investors to adjust their strategies quickly in response to market changes [4] Group 3: Supply and Demand Dynamics - The precious metals market is undergoing structural changes, with global silver demand projected to grow at a compound annual growth rate of 2.9% from 2024 to 2027, driven by industrial applications like photovoltaics and electric vehicles [4] - In contrast, silver supply is expected to grow only 1.2%, leading to a widening supply-demand gap [4] - Gold is supported by ongoing central bank purchases, particularly from China, which has increased its reserves to 73.7 million ounces as of March [4] Group 4: Market Sentiment and Technical Analysis - Technical analysis indicates that if gold stabilizes above $3,450 per ounce, it could target $3,550 to $3,600, while silver faces resistance at $36.5 per ounce [5] - Market conditions, including crowding and profit-taking pressures, are critical factors to consider [5] - Daily reports from the company provide key reference points to help investors avoid common pitfalls in trading [5] Group 5: Company Differentiation - The company, as an AA-class member of the Hong Kong Gold Exchange, emphasizes compliance and security through bank-level fund segregation and regular audits [6] - Technological capabilities include MT4/MT5 platforms that enable millisecond order execution with a slippage rate below 0.5%, achieving an average daily trading volume exceeding $10 billion [7] - The company offers in-depth research services, providing strategic recommendations based on key economic events and market conditions [8] Conclusion - The precious metals market is expected to experience wide fluctuations in the second half of 2025, driven by the Federal Reserve's policy changes, geopolitical conflicts, and supply-demand imbalances [9] - Investors are encouraged to choose platforms that combine regulatory compliance, technological strength, and professional research capabilities to navigate this complex environment [9]

Group 1 - The Federal Open Market Committee (FOMC) meetings are crucial for setting the federal funds rate, significantly impacting global financial markets, particularly the dollar and gold prices [1] - Understanding the FOMC meetings and their mechanisms is essential for gold investors to seize market opportunities [1] Group 2 - Interest rate changes affect gold prices: during rate hikes, gold prices typically face pressure as the dollar strengthens and opportunity costs rise; during rate cuts, gold becomes more attractive as cash holdings lose appeal [2] - The attractiveness of gold increases during low-interest periods, especially amid rising inflation concerns [2] Group 3 - The company offers specialized sessions during FOMC meetings, providing in-depth analysis of policy impacts and market dynamics [3] - Monitoring key economic indicators such as core inflation and employment data is crucial for understanding market expectations [3] Group 4 - The company boasts a team of experienced analysts focused on FOMC policy trends and gold market research, providing timely and authoritative insights [4] - Emphasis on client fund security through adherence to regulatory standards and advanced data encryption technologies [4] - The FOMC meetings are identified as a core variable driving gold market price fluctuations, highlighting the importance of market analysis and fund security for capturing investment opportunities [4]

Group 1: Platinum Price Surge - Platinum prices have surpassed $1300, reaching a nearly five-year high with a year-to-date increase of 44% [1] - In comparison, gold prices have risen nearly 30% this year but are currently consolidating below $3400 per ounce, indicating some weakness [1] Group 2: Market Dynamics - The rise in platinum is seen as a continuation of global currency devaluation trades, with investors seeking dollar-hedging tools beyond gold, leading to increased interest in silver and platinum [3] - The phenomenon termed "gold fatigue" suggests that as gold prices reach historical highs, investors are looking for opportunities further down the value chain [3] Group 3: Supply and Demand Factors - The World Platinum Investment Council (WPIC) forecasts a significant market deficit for platinum in 2025, with a shortfall of 966,000 ounces, exceeding previous estimates of 848,000 ounces [5] - Current above-ground inventories can only support three months of demand, indicating a structural deficit that is expected to persist until 2029 [5] - The imbalance between supply and demand is self-reinforcing, with rising prices leading to further consumption of market float inventory, potentially pushing the price discovery mechanism beyond market expectations [5] Group 4: Jewelry Market Demand - Automotive demand remains the primary driver of platinum consumption, accounting for 80% of global usage, but there is a notable increase in demand for platinum jewelry, particularly in China [5] - Analysts highlight a rebound in Chinese consumer interest in platinum jewelry, with a 26% year-on-year increase in platinum jewelry manufacturing, contrasting with a 32% decline in gold jewelry sales [6] Group 5: Diverging Opinions - Despite a generally bullish outlook on platinum, some analysts argue that the market is not as tight as it appears, predicting surpluses in 2024 and 2025 when excluding investment demand [8] - Concerns about global platinum inventory being sufficient challenge the narrative of a supply shortage, suggesting that the market may be misinterpreted [9]

Group 1 - The Federal Reserve's interest rate decisions significantly impact gold prices, with rate hikes typically leading to lower gold prices due to increased opportunity costs of holding non-yielding gold, while rate cuts tend to support gold prices [2] - The internal dynamics between the "hawkish" and "dovish" factions of the Federal Reserve influence gold market trends, with hawkish signals often resulting in price drops and dovish signals leading to price increases [3] - Geopolitical tensions and unexpected events drive gold's appeal as a safe-haven asset, with historical data showing significant price increases during crises [4] Group 2 - New investors should focus on key moments during Federal Reserve decision nights, such as the release of policy statements and the chairman's press conference, as these can indicate future market movements [5] - To navigate the volatility during interest rate meetings, new investors are encouraged to practice with simulated trading accounts to build their skills and understanding of market reactions [6][7] - The company offers a low barrier to entry for new investors, with features like zero-commission trading and minimal transaction sizes, making it easier for beginners to engage in gold trading [8]

Group 1: Silver Market Dynamics - Silver prices have surged, breaking the $37 per ounce mark, reaching a 13-year high, with a year-to-date increase of nearly 30% [1][2] - The rise in silver is attributed to a delayed valuation correction, as the gold-silver ratio peaked at 106, significantly above the historical average of 40-80, indicating silver was undervalued [2] - Speculative capital has flowed into the silver market, with a notable increase in net long positions in COMEX silver futures, as institutions bet on the gold-silver ratio reverting to its mean [2] Group 2: Factors Supporting Silver Prices - Multiple factors are contributing to the rise in silver prices, including an improved international trade environment and expectations of interest rate cuts by the Federal Reserve, which have increased capital inflow into the silver market [2] - Weak employment and service sector PMI data have raised market expectations for a 70% chance of a rate cut in September, while the dollar index has fallen below 99, creating favorable conditions for silver pricing [2] - The industrial demand for silver, particularly from the photovoltaic and battery sectors, is also bolstering price increases [2] Group 3: Impact on the Silver Supply Chain - The surge in silver prices is impacting the supply chain, particularly for downstream photovoltaic companies, where silver constitutes over 10% of solar cell costs, leading to profit pressures and adjustments in procurement strategies [3] - Some small and medium enterprises are delaying expansion plans and exploring silver paste recycling and low-silver technologies due to rising costs [3] - Jewelry manufacturers are also affected, with retail prices lagging behind wholesale prices, resulting in a situation where small workshops are halting orders due to cost pressures [3] Group 4: Gold Market Dynamics - The gold market is experiencing volatility, driven by geopolitical factors and a shift in investment focus towards silver, which is perceived as undervalued [4] - Although gold retains its appeal as a safe-haven asset, its short-term performance is being constrained by the diversion of funds to silver, leading to reduced trading activity in traditional gold investment channels [4] - Gold ETFs have seen a slight reduction in holdings, but gold remains a stable asset in institutional portfolios, with a consistent allocation despite short-term trading fluctuations [4] Group 5: Future Outlook - In the short term, silver may face resistance at the 2011 high point, with potential for price corrections due to profit-taking [5] - However, the long-term outlook for silver remains positive, supported by global de-dollarization trends and increasing industrial demand, suggesting a sustained upward trajectory [5] - Gold's future performance will depend on Federal Reserve policies and geopolitical tensions, with potential for upward movement if interest rates are cut or if safe-haven demand increases [5] Group 6: Market Transformation - The current gold-silver divergence is reshaping market perceptions and strategies regarding precious metals, leading to a new balance and transformation within the precious metals market [6]

地缘冲突升级与科技变革交织，全球顶尖分析师共绘贵金属投资新蓝图 2025年6月14日，红狮金业2025年中投资论坛在香港线下线上同步盛大开幕。本次论坛汇聚领域顶尖贵金属分析师和金融科技 专家，围绕三四季度黄金、白银及原油走势展开深度剖析，并系统性探讨人工智能在黄金交易领域的革命性应用。 贵金属走势：避险需求推动黄金白银持续走强 论坛开场，红狮金融研究院首席分析师展示了最新预期分析：黄金价格在第三季度有望再次突破3500美元/盎司，而白银在工 业与投资双重需求推动下，可能挑战42美元/盎司的历史新高。 论坛现场展示的资本流动监测数据显示，在近期中东冲突升级期间，全球资金呈现出"风险资产抛售+避险资产涌入"的典型模 式。军#工、石油石化板块逆势领涨，而传统消费板块则明显承压。"这不是短期扰动"，"地缘冲突风险溢价已嵌入贵金属长 期定价。当市场看到伊朗核设施成为打击目标，意味着游戏规则已经发生本质变化。" 科技变革：AI重塑黄金交易生态 本次论坛最具前瞻性的议题聚焦AI技术在黄金交易中的应用。红狮科技金融实验室负责人首次展示了 AI黄金交易辅助系统的 两大突破性进展： 1. 多模态市场情绪分析：整合新闻文本、社交媒 ...

Group 1 - The People's Bank of China has increased its gold reserves to 73.7 million ounces as of March 2025, marking 18 consecutive months of accumulation, reflecting a strategic response to global economic uncertainties [1] - The gold reserves now account for 5.5% of the country's foreign exchange reserves, aligning with the global trend of central banks moving away from the US dollar, with a record net purchase of 1,044 tons of gold in 2024 [1] - The price of Shanghai gold futures reached a high of 782.42 yuan per gram on June 4, indicating sustained market recognition of the investment value of precious metals [1] Group 2 - China's gold reserve ratio is only one-third of the global average, prompting the central bank to adopt a "pulse-style increase" strategy, with a record monthly increase of 10.26 tons in December 2024 [3] - This strategic adjustment not only diversifies risks associated with dollar assets but also supports the internationalization of the renminbi, enhancing the credibility of the sovereign currency [3] - Gold is increasingly seen as a long-term asset allocation "ballast" for individual investors, with Jinsheng Precious Metals providing a robust safety net through its compliance and auditing measures [3] Group 3 - Geopolitical risks and policy uncertainties, such as the ongoing Russia-Ukraine conflict and fluctuating US tariff policies, have created a surge in demand for safe-haven assets like gold [4] - On June 3, international gold prices rose by 1% due to the breakdown of negotiations regarding the Russia-Ukraine prisoner exchange, surpassing 3,390 yuan per gram, highlighting gold's role as a crisis hedge [4] - Jinsheng Precious Metals has established a comprehensive service system to address this trend, achieving a customer satisfaction rate of 97.3% in Q1 2025 [4] Group 4 - The dual characteristics of enhanced safe-haven attributes and surging industrial demand in the precious metals market have prompted Jinsheng Precious Metals to leverage technology to build a competitive trading ecosystem [5] - The platform connects directly with Bloomberg data, ensuring market data latency of less than 0.3 seconds and supporting multi-currency settlements, catering to diverse global investor needs [5] - Jinsheng Precious Metals has also implemented blockchain technology for supply chain traceability, aligning with EU carbon tax standards, thus enabling investors to capitalize on opportunities in the hydrogen energy revolution [5] Group 5 - The continuous increase in gold reserves by the People's Bank of China signals a strategic response to changes in the global financial landscape, guiding individual investors towards precious metal investments in 2025 [6] - In an era where compliance, technological innovation, and user experience are core competitive advantages, Jinsheng Precious Metals is building a "safe, efficient, and transparent" trading ecosystem based on Hong Kong's financial regulatory framework [6] - The company aims to facilitate both short-term trading and long-term asset allocation, enabling wealth growth in a complex environment by aligning with market trends [6]

● 本报记者 葛瑶 在黄金高位震荡之际，铂金市场正在开启一段强劲上涨行情。Wind数据显示，6月4日，铂金现货价格 强势突破1080美元/盎司关口，逼近最近一年来高点。年初至今，铂金现货价格累计上涨近20%。 支撑此轮涨势的核心在于持续加剧的供应短缺，世界铂金投资协会发布的最新报告称，2025年铂金地上 近期，支撑铂金价格上涨的核心动力来自基本面变化。世界铂金投资协会数据显示，2025年铂金地上存 量将降至67吨，仅够满足三个月需求。该协会发布的最新报告称，今年第一季度全球铂金总供应量同比 下降10%，降至45吨。同期全球铂金需求同比增长10%至71吨，这一增长主要归因于强劲的投资需求。 世界铂金投资协会在报告中称："受与关税相关的不确定性及区域溢价扩大驱动，大量铂金流入美国市 场，推动交易所库存显著增加。投资需求的增长有效抵消了汽车及工业领域需求的下滑。" 存量预计仅能满足三个月需求，一季度全球供应同比锐减10%至45吨。与此同时，投资需求激增推动纽 约商业交易所（NYMEX）铂金期货总持仓量与管理基金净多持仓飙升至近五年同期峰值，市场对铂金 市场投资情绪正悄然回暖。 今年以来涨幅接近黄金 从数据来看，铂金 ...

2025年6月的黄金市场正经历多重力量的博弈。受美国关税政策调整及美元指数回落影响，国际金价在3200-3400美元/盎司区间震荡中展现韧性。全球央行 购金力度持续加大，2025年第一季度黄金购买量创历史新高，中国央行黄金储备连续18个月增持，凸显黄金作为"危机对冲工具"的战略价值。与此同时，美 联储6月15日议息会议临近，市场对降息预期升温，若实际利率进入负值区间，将进一步降低持有黄金的机会成本。地缘政治方面，中东冲突升级、台海局 势紧张等因素叠加特朗普政府的"全球关税战"政策，使得黄金的避险属性被再度激活。 在这样的市场环境下，专业投资平台的选择尤为关键。金盛贵金属作为香港黄金交易所AA类会员（第047号），凭借合规资质与技术创新构建了全流程投资 优势。其自主研发的交易系统实现毫秒级订单执行，同步接入MT4与MT5平台，既能满足自动化交易需求，又支持多资产深度回测，在市场剧烈波动时仍可 保障交易流畅性。资金安全方面，平台采用银行级隔离账户系统，2小时极速到账机制与同名账户转账制度，从源头杜绝资金盗用风险。 通胀与避险需求的双重驱动逻辑 当前全球通胀压力虽较2022年峰值有所回落，但能源价格波动与供应链重构 ...

③关税政策加剧市场波动 美国联邦上诉法院恢复特朗普关税政策，关税政策的不确定性影响美与他国贸易关系，左右全球经济前景与市场避险情绪，导致黄金价格震荡。政策收紧或 刺激金价，缓和则可能抑制金价。 综上，地缘冲突、美国经济数据与关税政策共同作用于现货黄金市场。投资者需紧盯俄乌局势、美国经济数据及关税政策变化，把握投资机会。 二、现货黄金技术面： 一、现货黄金基本面： ①地缘政治推升避险需求 6月1日，乌克兰无人机袭击多个俄罗斯军用机场，远至西伯利亚的贝拉亚基地亦受损，俄罗斯多地防空系统启动。地缘冲突加剧，作为避险资产的黄金，其 需求显著提升，只要局势未缓解，黄金将持续获避险买盘支撑。 ②美国经济数据影响市场预期 美国4月PCE物价指数同比涨2.1%，低于预期的2.2%，市场押注美联储9月降息概率升至87%。同时，二手房成交量、领先经济指数等数据疲软，显示美国经 济增长承压，进一步增加黄金避险需求。美联储若进入降息周期，黄金还将因持有成本下降、货币供应量增加而获上涨动力。 三、现货白银技术面： 复盘昨日现货白银市场表现，价格走出了单边上涨走势，最终突破震荡区间上边界33.710，顺利抵达目标位34.110，成功斩获 ...