Huatai Futures: Currently, the logic for silver is similar to that of gold, and silver's own price is expected to maintain a similar range-bound pattern.

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Geopolitically, the situation in the Middle East adds new uncertainties. Iranian Foreign Ministry Spokesman Baghaei stated that Iran has "basically no plans to hold any meetings at any level with the U.S. side" in the coming days. Baghaei indicated that activities possibly taking place in Doha on July 1 will mainly focus on the implementation of the terms of the Memorandum of Understanding. Qatari Foreign Ministry Spokesman Al-Ansari said that the U.S. president's special envoy and Trump's son-in-law are visiting Qatar, but it does not include direct negotiations with Iran. In the foreign exchange market, the yen fell below the key level of 162 against the dollar for the first time since December 1986, and whether Japanese authorities will intervene again in the market has become the focus. Japanese Finance Minister Katsunobu Kato reiterated readiness to take action, but his remarks were mild and restrained, without actively signaling strong intervention. Most institutions believe that even if Japan intervenes in the market, it will be difficult to reverse the long-term depreciation trend of the yen. Meanwhile, traders are increasingly moving the "red line" for intervention to 163 and lower levels. Currently, market risk appetite has improved, and demand for gold investment may increase slightly; however, macro constraints remain, so gold prices are expected to maintain a volatile pattern in the near term. At present, the logic for silver is similar to that for gold, and silver prices themselves are also expected to remain in a volatile pattern. (Huatai Futures)
XAG-3.74%
XAU-1.74%
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