CICC Wealth Futures: Gold rebounds notably amid expectations of US-Iran negotiations

On November 2, Iranian President Pezeshkian stated that the government is working to resolve the issue through dialogue, and that Iran's Supreme Leader has also granted the government certain powers. Trump subsequently hinted that progress had been made in the negotiations and said that the decline in oil prices was precisely because the negotiations were progressing smoothly. Affected by this, gold rebounded noticeably. However, it should be noted that intensive bond issuance by tech giants has further fueled expectations of a scramble for market liquidity. In the short term, closely monitor the progress of US-Iran negotiations and changes in overseas liquidity, and temporarily maintain a range-bound mindset.