Core Viewpoint - Recent fluctuations in international gold prices have been driven by concerns over potential tariffs on gold bars imported from Switzerland, which is a major refining center for gold [1][2][3] Group 1: Tariff Impact on Gold Market - A report indicated that the U.S. Customs and Border Protection classified 1-kilogram and 100-ounce gold bars under a higher tariff code, raising fears of increased costs for imports from Switzerland [2][3] - The announcement led to a significant spike in gold futures prices, with COMEX gold reaching $3534.10 per ounce on August 8, before a subsequent clarification from the White House caused prices to drop [3][4] - The potential imposition of tariffs could disrupt the global gold supply chain, as Switzerland plays a crucial role in refining and trading gold [2][3] Group 2: Market Reactions and Price Trends - Following the White House's clarification that gold would not be subject to tariffs, gold prices experienced a sharp decline, with COMEX futures falling over 2% to below $3400 per ounce [4][5] - The gold market has been in a consolidation phase, with London spot gold showing minimal fluctuations from May to July, indicating a period of adjustment [5][6] - Analysts suggest that short-term gold prices may oscillate between $3300 and $3500 per ounce, while medium to long-term outlook remains bullish due to ongoing geopolitical risks and central bank demand [5][6] Group 3: Future Outlook for Gold Prices - The resolution of the tariff concerns is expected to stabilize market sentiment, allowing focus to shift back to fundamental factors such as the U.S. dollar's performance and global economic conditions [6] - Analysts believe that gold prices are likely to remain in an upward trend due to persistent demand for safe-haven assets amid policy uncertainties and geopolitical tensions [6] - Predictions indicate that gold could reach a target price of $3500 per ounce under baseline scenarios, with potential for further increases to $3800 per ounce if geopolitical or economic conditions worsen [5][6]

Group 1 - The international gold price experienced a significant drop of 2.80%, settling at $3,393.7 per ounce after reaching a record high of $3,534.1 per ounce [1] - Market analysts noted limited reactions to geopolitical events, such as the upcoming video conference on Ukraine, and highlighted increased uncertainty in U.S. monetary policy due to the search for a new Federal Reserve chair [1] - Despite short-term fluctuations, several institutions remain optimistic about gold's long-term performance, citing factors like "rate cut trades" and geopolitical tensions as strong support for gold prices [1][2] Group 2 - The U.S. Customs and Border Protection has classified major gold products, including one-kilogram and 100-ounce gold bars, as import items subject to tariffs, which initially caused gold prices to spike above $3,500 per ounce [1] - The Trump administration is expected to clarify that gold bars should not be subject to tariffs, with an executive order anticipated to address misinformation regarding tariffs on gold and other specialty products [1] - China's central bank reported purchasing 1.86 tons of gold in July, marking nine consecutive months of gold purchases, which aligns with market expectations of three interest rate cuts by the Federal Reserve this year, indicating potential for further increases in precious metal prices [5]

Core Viewpoint - The current market conditions present a favorable investment opportunity in the gold sector, driven by recent economic data and geopolitical factors [4][5]. Market Performance - As of August 11, the Gold ETF (159937) experienced a decline of 0.75% with a trading volume of 270 million yuan. Over the past three days, there has been a net inflow of 276 million yuan, and the fund has increased by 3.84% in the last month [1]. - Spot gold prices opened lower, briefly falling below the $3,370 mark, and were reported at $3,376.10 per ounce, down 0.66%. The highest price reached was $3,405.21, while the lowest was $3,367.20. COMEX gold was priced at $3,441.20 per ounce, down 1.43% [3]. Economic Indicators - The U.S. non-farm payroll data for July showed an increase of only 73,000 jobs, significantly below the expected 110,000, leading to heightened expectations for interest rate cuts by the Federal Reserve [4]. - The anticipated rise in inflation due to tariff impacts is expected to further support gold prices, indicating a potential new upward trend in the gold market [4]. Geopolitical Factors - The upcoming international summit poses a critical juncture for Ukraine, where progress could reduce geopolitical risks and lower demand for safe-haven assets like gold. Conversely, any disagreements could increase demand for gold [3]. Supply and Demand Dynamics - The global gold supply-demand balance is tightening, with investment demand expected to rise significantly in 2024. Domestic gold supply is projected to increase slightly, while demand is also recovering, particularly in investment [5]. - The long-term bullish outlook for gold remains intact, supported by central bank purchases and a weakening dollar amid ongoing global political and economic instability [5]. Investment Strategy - The Gold ETF (159937) and its linked funds offer a low-cost, diversified investment option in gold, with features such as T+0 trading. The long-term value of gold as a hedge against economic downturns is emphasized [5].

Group 1 - International gold prices continued to rise, with London spot gold breaking the $3,400 mark, reaching a high of $3,409.04 per ounce, while COMEX gold touched $3,534.1 per ounce, setting a new intraday historical high [1][4] - The increase in gold prices is attributed to the uncertainty in global trade caused by the Trump administration's tariff policies and the market's optimistic outlook on potential interest rate cuts by the Federal Reserve following the nomination of Stephen Moore [4][6] - The U.S. Customs and Border Protection has included major gold products, such as one-kilogram and 100-ounce gold bars, in the category subject to tariffs, with a significant 39% tariff on imports from Switzerland, leading to reduced or halted exports from Swiss gold refineries [6] Group 2 - The Shanghai Gold Exchange issued a notice on August 8, emphasizing the need for market risk control due to various factors affecting market stability, urging members to enhance risk awareness and maintain smooth market operations [7] - Market analysts suggest that the recent changes in Federal Reserve personnel and non-farm employment data have boosted expectations for further monetary easing, which is expected to become the main trading logic in the gold market as the September rate cut approaches [9]

Core Viewpoint - The article discusses the recent trends in gold prices, highlighting the significant increase in gold demand from global central banks and the impact of U.S. tariffs on gold imports [2][6][11]. Group 1: Gold Price Trends - As of August 9, the London spot gold price was reported at $3,398.61 per ounce, with a peak of $3,409.04 on August 8 [2]. - The COMEX gold price reached a record high of $3,534.1 per ounce during the Asian trading session on August 8, closing at $3,486.5 [2]. - Over the past week, gold prices have shown an upward trend, with COMEX gold futures rising over 4% from July 31 to August 7 [5]. Group 2: Central Bank Gold Purchases - According to a report from the World Gold Council, global central banks added a net total of 22 tons of gold to their reserves in June, marking the third consecutive month of slight increases [7]. - Uzbekistan's central bank was the largest net buyer in June, while the Monetary Authority of Singapore was the only net seller, offloading 6 tons [9]. - As of the end of July, the People's Bank of China had increased its gold reserves to 2,300.41 tons, adding 1.86 tons over the previous month, continuing a nine-month streak of increases [9]. Group 3: U.S. Tariffs on Gold - The U.S. Customs and Border Protection has included major gold products, such as one-kilogram and 100-ounce gold bars, in the category of imported goods subject to tariffs, with a proposed 39% tariff on imports from Switzerland [12]. - This tariff policy has led to reduced or suspended gold exports to the U.S. from two Swiss refineries, potentially driving up gold futures prices in New York due to expected supply shortages [12]. - The Trump administration is expected to clarify the tariff situation regarding gold imports, which has caused significant concern among traders [12].

Group 1 - The Trump administration plans to clarify that imported gold bars should not be subject to tariffs, following confusion caused by a previous announcement [1][4] - The U.S. Customs and Border Protection (CBP) had unexpectedly classified gold bars as subject to a 39% tariff, which was a significant increase from the previous 10% [4][7] - The imposition of tariffs on gold bars, particularly the 1-kilogram and 100-ounce bars, has raised concerns about the impact on the U.S. gold trading activities, as these bars are central to the market [7][8] Group 2 - The Swiss precious metals industry has expressed that the tariffs make exporting gold to the U.S. economically unfeasible, potentially eliminating any future trade deficits [7][8] - Analysts suggest that the global gold market may need to adjust its supply chain and explore alternative sourcing strategies to mitigate the impact of the tariffs [8][9] - The introduction of tariffs could lead to increased costs for importing gold, affecting the settlement of futures contracts on the Comex [8][9]

Core Viewpoint - The upcoming meeting between Russian President Putin and U.S. President Trump on August 15 in Alaska aims to discuss a long-term peace plan for Ukraine, indicating a potential diplomatic breakthrough in U.S.-Russia relations [2]. Group 1: Meeting Details - The meeting is scheduled for August 15, 2023, in Alaska, as confirmed by Russian presidential aide Ushakov [1]. - Trump stated that the U.S. and Russia are "very close" to reaching an agreement regarding the Ukraine issue [2]. Group 2: Impact on Gold Market - The U.S. Customs and Border Protection has classified major gold products, including one-kilogram and 100-ounce gold bars, as items subject to tariffs, with a significant 39% tariff imposed on imports from Switzerland [2]. - As a result of the U.S. tariff policy, two Swiss gold refineries have reduced or suspended their exports to the U.S., leading to expectations of a short-term increase in New York gold futures prices due to supply constraints [2]. - UBS forecasts that if the U.S. continues its tariff policy on gold, the price spread between COMEX gold futures and London gold futures will widen, creating more arbitrage opportunities among different refining centers [2].

Core Viewpoint - International gold prices have continued to rise, reaching a record high of $3534.1 per ounce during Asian trading on the 8th, driven by global trade uncertainties and expectations of potential interest rate cuts by the Federal Reserve [1][3]. Group 1: Gold Price Trends - Domestic gold prices have also increased, with various brands of gold bars exceeding 1000 yuan per gram as of the 8th [1]. - Specific prices include 816.00 yuan per gram for Zhongchao Guoding gold bars and 781.05 yuan per gram for Shanghai Gold Exchange investment gold bars [1]. Group 2: Market Influences - The rise in gold prices is attributed to the U.S. government's tariff policies disrupting global trade and increasing economic uncertainty [3]. - The nomination of Stephen Moore to the Federal Reserve has led to a more favorable outlook for potential interest rate cuts, further supporting gold prices [3]. - U.S. Customs has classified major gold products as subject to tariffs, impacting imports from Switzerland, which could reduce supply and push up prices in the short term [3]. Group 3: Expert Opinions - Experts predict a long-term upward trend in gold prices, with targets of $4000 to $5000 per ounce, but caution about potential technical corrections following new highs [5]. - The Federal Reserve's interest rate policy is seen as a critical variable that could limit gold's upside if rates remain unchanged [5]. - Random events such as geopolitical conflicts and consumer buying behavior add complexity to gold price predictions [5]. Group 4: Investment Strategies - Investors are advised to set clear stop-loss levels to manage risks effectively, especially in volatile markets [5]. - It is recommended to focus on liquid gold assets and avoid speculative investments that do not align with clear investment goals [6].

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， ...

Group 1 - The U.S. government's implementation of "reciprocal tariffs" has faced global opposition, leading to market adjustments since late July, as investors remain cautious about potential stagnation and recession risks in the U.S. economy [1] - Stephen Moore, a critic of the Federal Reserve, has been nominated by President Trump to fill a vacant position on the Fed's board, pending Senate approval, which has influenced market expectations for potential interest rate cuts this year [3] - Following the news of Moore's nomination, the dollar index's gains narrowed, and international gold prices increased, with December gold futures closing at $3,453.7 per ounce, reflecting a 0.59% rise [3] Group 2 - The U.S. Customs and Border Protection has classified major gold products, including 1-kilogram and 100-ounce gold bars, as items subject to tariffs, with the 1-kilogram gold bar primarily imported from Switzerland facing a 39% tariff [3] - On August 8, international gold prices continued to rise, with London spot gold surpassing $3,400, reaching a peak of $3,409.04 per ounce, while COMEX gold hit an intraday record high of $3,534.1 per ounce [3]