29日上午，伦敦金现货价格强势上行，涨幅超过1%，盘中一度触及3807.85美元/盎司新高，成功突破3800美元关口，实现连续第六周上涨。贵金属市场全 线飘红。 伦敦金现 < W SPTAUUSDOZ.IDC 3758.780 总量 3806.840 昨年 20 3756.152 现手 +48.060 +1.28% 开盘 最高价 3807.850 持 仓 0 4 qua 最低价 3755.662 增 仓 R 量 0 五日 分时 開家 周K 叠加 设均线 MA5:3762.563↑ 10:3723.556↑ 20:3665.607↑ 3858.181 -- 3807-85 3537.894 3267.937 3217.606 2025-07-22 08-08 08-26 09-11 成交量 总手:0 总额:0 VMA5:0 VMA10:0 VMA20:0 伦敦银现货同样表现亮眼，盘中价格一度涨超2%至47.174美元/盎司，创历史新高。铂金和钯金价格也取得显著涨幅。 银河证券认为，随着美联储重启降息，货币政策逐步宽松的趋势或已确立，后续在美国劳动力市场下滑的影响下，美联储或将持续降息，从而推动全球黄金 ETF加 ...

Group 1 - The Shanghai Gold ETF (159830) has seen a strong performance, rising 1.29% with a trading volume exceeding 36 million yuan, and its latest circulation scale is 1.261 billion yuan, making it the largest in the Shenzhen market for similar products [1] - The Shanghai Gold ETF closely tracks the Shanghai Gold (SHAU.SGE) and has a management fee of 0.25% and a custody fee of 0.05%, both lower than the average for similar products, and supports T+0 trading [1] - The recent surge in international gold prices is attributed to multiple factors, primarily driven by the Federal Reserve's interest rate cuts, with COMEX gold futures reaching 3744.0 USD/oz and domestic gold contracts reporting a year-to-date increase of over 35% [2] Group 2 - The long-term upward trend in the precious metals market is supported by liquidity from the Federal Reserve's rate cuts, diversified gold purchasing demand from global central banks, and heightened risk aversion due to geopolitical conflicts [3] - Technical analysis indicates that New York gold has support around 3550 USD and may test levels near 3800 USD, suggesting that pullbacks present buying opportunities within a long-term bull market for gold and silver [3] - The IPO market for resource companies in Hong Kong has been active since 2025, with several companies, including Zijin Mining International, expected to boost valuations in the precious metals sector as gold prices continue to rise [2]

如期而至的美联储降息来了，9月18日凌晨，鲍师傅宣布美联储降息25个基点。就在鲍师傅说了句下午 好后，仅仅过了半小时，伦敦金现货大跌1个点。有意思的是，在前一个交易日，也就是9月17日，伦敦 金现货价格每盎司突破3700美元，来到了历史性的高位。今天就顺着美联储降息来给大家讲讲美联储降 息如期而至，为何黄金还跌？黄金的大顶在哪里？以及黄金的逻辑是什么？本期视频会结合最近黄金价 格走势来做解读。 ...

Group 1: Oil Market - Trump urged countries to stop purchasing oil from Russia, stating that a decrease in oil prices would lead to Putin withdrawing from the Ukraine conflict [4] - During Trump's remarks, international oil prices saw an increase in decline, with WTI crude futures and Brent crude futures both dropping over 1.1% at one point [4] - As of the market close, WTI crude settled down nearly 0.75% at $63.57 per barrel, while Brent crude settled down 0.75% at $67.44 per barrel [4] Group 2: Precious Metals Market - The precious metals market experienced increased volatility ahead of the Federal Reserve's meeting, with London gold spot prices surpassing $3,700 per ounce before significantly retreating [6] - Analysts noted that the Fed's decision to cut rates by 25 basis points was in line with market expectations, leading to a short-term price correction in precious metals [7] - The market's risk appetite, the U.S. dollar index, and global economic growth expectations are influencing short-term trends in precious metals prices [7] Group 3: Future Outlook for Precious Metals - Analysts generally expect precious metal prices to maintain high levels in the short term, with a long-term bullish trend remaining intact [9] - The ongoing geopolitical tensions, including the Russia-Ukraine conflict, are contributing to heightened market risk aversion, which supports international gold prices [8] - Investors are advised to consider accumulating long positions in precious metals during price corrections, while remaining aware of potential risks such as decreased geopolitical tensions and a recovering U.S. job market [9]

Group 1 - International precious metal futures experienced a general decline, with COMEX gold futures down 0.82% to $3694.60 per ounce and COMEX silver futures down 2.15% to $41.99 per ounce [1] - Analysts suggest that the shift in major central banks' monetary policies may further weaken the dollar's attractiveness, potentially providing support for the precious metals market [1] Group 2 - Recent reports indicate significant inflows into U.S. gold ETFs, totaling approximately $367 billion, while Chinese gold ETFs saw outflows exceeding $26.5 billion, marking China as the only region with notable reductions [3] - Retail investors are marginally increasing their gold holdings, while institutions are reducing their positions, reflecting a divergence in sentiment [3] - Speculative net long positions in gold have rapidly decreased, indicating a weakening bullish sentiment among institutions [3] - Although COMEX gold and London spot gold prices have reached historical highs, Shanghai gold has not yet surpassed its previous peak, suggesting a lack of enthusiasm in China compared to other global regions [3] - Hong Kong has announced five measures to accelerate the establishment of an international gold trading market, aiming to expand gold storage and build a regional gold reserve hub with a target of over 2000 tons in three years [3]

Group 1 - The Federal Reserve announced a 25 basis point cut in the federal funds rate target range to 4.00%-4.25%, aligning with market expectations. This marks the first rate cut in nine months since December 2024 [1] - Historically, the Dow Jones and S&P 500 have a higher probability of declining on the day of a rate cut, with 18 out of 32 instances resulting in a drop. The Nasdaq has shown mixed results [1] - Following the Fed's rate cuts, A-shares typically experience declines on the next trading day, with the Shanghai Composite Index dropping 17 times out of 31, averaging a decline of 0.25% [1] Group 2 - In terms of industry performance post-rate cut, only the oil and petrochemical sector showed a positive average increase of 0.11%, while other sectors like food and beverage, construction materials, and electronics performed poorly with average declines exceeding 0.4% [1] - Precious metals, represented by London gold, have shown significant increases during rate cut cycles, with a notable rise of 48.94% from September 18, 2024, to the present. In contrast, industrial metals like LME copper and energy commodities like WTI crude oil have primarily declined [1] - The dollar index generally trends downward or remains low during rate cut cycles, consistent with historical patterns observed since 2000 [1]

Group 1 - Gold prices have seen a significant increase since September, with Comex gold futures reaching a high of $3640.1 per ounce and London spot gold hitting $3578.375 per ounce, both marking historical peaks [1] - The surge in gold prices has positively impacted related A-share gold stocks, leading to their appreciation [1] Group 2 - As of September 3, 2023, leading gold stocks such as Zijin Mining and Shandong Gold have experienced over 50% growth this year, outperforming the increase in gold prices [2] - Both gold and gold stocks have significantly outperformed the Shanghai Composite Index [2]

Core Insights - Lingyun Community has launched three major fund products to cater to the diverse investment needs of its members in response to global economic changes and market volatility [1] Group 1: Fund Offerings - **Speed Fund**: Designed for members with a high-risk tolerance who prefer short-term trading opportunities, this fund invests in high-volatility assets like Bitcoin, Ethereum, and gold, utilizing day trading strategies for efficient value growth [3] - **Value Fund**: Aimed at members seeking long-term stable growth, this fund balances risk and return by investing in high-quality ETFs from both mature and emerging markets, such as S&P 500, NASDAQ 100, and CSI 300, focusing on long-term holding and scientific asset allocation [3] - **Stability Fund**: Targeted at members who prefer low-risk, safe investments, this fund offers a diversified portfolio including S&P 500, Hang Seng Index, Bitcoin, Ethereum, and London gold, employing a diversification strategy to minimize systemic risk and support steady wealth accumulation [3] Group 2: Member Services - Lingyun Community emphasizes enhancing the investment experience for its members by equipping all three funds with comprehensive risk control systems and real-time monitoring mechanisms, supported by a professional internal team to provide transparent and sustainable investment management services [5] Group 3: Future Growth - By focusing on investment sector development, integrating global quality resources, and applying financial technology tools, Lingyun Community aims to create a diversified investment platform, with plans to continue addressing community needs and introducing more innovative fund products while providing education and support for members [7]

Group 1 - The core viewpoint of the news revolves around the significant diplomatic progress made between the U.S. and Russia regarding the Ukraine situation, with potential implications for peace negotiations and geopolitical stability [2][3][5] - U.S. President Trump announced a meeting with Ukrainian President Zelensky, indicating a possible trilateral meeting involving the U.S., Russia, and Ukraine, which could pave the way for further discussions on the conflict [2][5] - The U.S. special envoy stated that Russia has agreed to include a "NATO-like Article 5" security guarantee for Ukraine in future peace talks, marking a notable concession from Russia [3] Group 2 - The gold market experienced a decline due to reduced geopolitical risks following the U.S.-Russia meeting, with gold prices dropping approximately 2% and falling below 3400 yuan per ounce [4][6] - Analysts noted that the decrease in market risk appetite was influenced by positive signals from the U.S.-Russia meeting and a joint statement from the U.S. and China, which alleviated concerns over trade tensions [4][6] - The rise in U.S. inflation, as indicated by the July PPI data, has led to decreased expectations for interest rate cuts by the Federal Reserve, further applying downward pressure on gold prices [4][6][7]

Core Viewpoint - Recent fluctuations in international gold prices have drawn significant attention from global investors, influenced by macroeconomic conditions and policy expectations, with a medium-term upward trend anticipated after short-term adjustments [1][3] Price Fluctuations - As of August 11, COMEX gold futures were priced at $3415.7 per ounce, down approximately 2%, while London gold spot prices were at $3359.81 per ounce, indicating a period of high volatility since late July [1] - The price gap between international gold futures and spot prices has widened significantly, reaching levels not seen in recent years, with a peak difference of over $100 per ounce [2] Market Dynamics - The recent increase in gold prices is attributed to various factors, including lower-than-expected U.S. non-farm payroll data, which heightened concerns about economic weakness, leading to a rapid rebound in gold prices [1][2] - The World Gold Council reported a net increase of 22 tons in global official gold reserves in June, marking the third consecutive month of slight increases, with China's gold reserves reaching 2300.41 tons by the end of July [2] Future Price Predictions - Institutions generally expect gold prices to maintain an upward trajectory, with Goldman Sachs predicting a potential rise to $3700 per ounce by year-end, and some optimistic forecasts suggesting prices could reach $4000 per ounce [3] - UBS maintains a price target of $3500 per ounce under baseline scenarios, with potential for $3800 per ounce if geopolitical tensions escalate or global economic conditions worsen [4] Investment Demand - Investment demand for gold has surged, with a year-on-year increase of 78%, and inflows into gold ETFs reaching the fastest half-year growth since 2010, indicating strong market interest [4] - UBS has revised its annual gold ETF demand forecast from 450 tons to slightly above 600 tons, marking the largest increase since 2020, despite current holdings being approximately 650 tons below historical peaks [4]