天风·金属与材料 | 非农下修+人事变动,黄金迎金融、货币属性共振

天风研究
Aug 06, 2025

8月初,三大事件齐发,有望推动金价趋势上行。非农下修彰显下行的经济底色,降息预期提升利好金价金融属性。人事更迭为货币政策独立性蒙上阴影,美元信用弱化利好金价货币属性。8月初,三大事件齐发,有望推动金价趋势上行事件1:7月非农就业新增7.3万,低于预期的11万,同时分别将5月和6月数据下修12.5万和13.3万,共计下修25.8万。事件2:最鹰联储理事之一库格勒宣布将于8月8日辞职,比其任期结束时间...

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