金價陷入兩月橫盤，短期走向的關鍵或在長期美債收益率能否企穩；收益率進一步上行，可能觸發黃金的“壓力測試”開關，而債市穩定則有望緩解金價下行壓力……點擊查看...

July saw rapid margin‑financing outflows, but regulatory support and onshore incremental funds have helped stabilise short‑term liquidity. External pressures — Middle East tensions lifting oil, higher US Treasury yields and renewed Fed hike expectations — have dented global risk appetite. CITIC says the AI sector’s mid‑to‑long‑term thesis remains intact: KimiK3 is reshaping the performance/cost narrative, expanding workflow coverage and accelerating vertical penetration, and Google’s counter‑trend capex increase supports a compute supply‑demand mismatch. Near term the market is likely to trade a W‑shaped bottom; investors should wait for external uncertainty to clear while rebalancing into low‑base areas with solid fundamentals and valuation‑recovery potential. Key focus: AI (upstream materials/equipment, domestic compute), midstream export manufacturing chains (new energy, machinery, shipbuilding), upstream resources and defensive dividend plays.

據阿拉比亞電視臺：伊拉克總理將於下週四訪問沙特阿拉伯。