CITIC Futures: Maintain a cautious and wait-and-see attitude towards precious metals. Short-term traders are advised to wait for clear opportunities to enter on the right side.

CITIC Futures believes that the overall idea of asset allocation should maintain a "balanced allocation, focusing on structural opportunities" approach. From a quarterly perspective, driven by economic growth expectations, assets more closely related to the AI industry may continue to outperform assets mainly driven by financial conditions. CITIC Futures recommends long positions in IC, IH, and copper, while closely monitoring developments in U.S. copper tariffs. In terms of precious metals, a cautious approach is advised, and short-term traders should wait for clear entry opportunities on the right side, paying attention to the time window in the later part of the third quarter and observing whether there will be a clear opportunity for a hawkish policy shift by the Fed.