Huatai Securities: Gold price is highly likely to rise, and the turning point of copper price may have already appeared

On August 2nd, Jinshi Data reported that Huatai Securities research report pointed out that for different economic scenarios in the future United States, continuous interest rate cuts or economic stability and re-inflation will be highly probable events, both of which will be beneficial for the pump of gold price. The short-term turning point of copper price may have appeared. Huatai Securities believes that the rapid pump of copper price in 24H1 has suppressed downstream demand. In July, with the decline of copper price, demand gradually recovered, and supply remained tight. The negative sentiment of market trading on the recession of the United States also ended with Q2 GDP data exceeding expectations. There have been more recent sporadic incidents, which may have a catalytic effect on the pump of gold and copper prices. For example, Escondida copper mine with an annual output of more than 1 million tons may face potential strike risks, and the follow-up progress of the Middle East regional situation is also worth following.