贵金属:当前节点,建议重视黄金股年内第二波行情机会,维持增配策略。我们认为黄金股或有望在金价、估值、风格三维度迎季度级共振,建议切换增配。短期站稳3500美元/盎司后,权益估值端将会显著修复,建议继续重视黄金股增配,本周关注CPI 数据。维度一,金价,今年驱动较纯粹,突破依赖传统利率框架。见衰退降息,周期性资金入场,金价上破。周五大非农下修或是“抢进口”脉冲后经济趋弱的起点。9 月降息概率升至...
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