Spot gold broke through $5,060 per ounce, up 2.29% on the day.

Sources at India's Ministry of Trade: India and the United States are about to sign a "framework" trade agreement, similar to those signed by other U.S. trading partners.

International 1. Goldman Sachs: Western capital flows dominate January precious metals market; gold forecasts upside risks. 2. Danske Bank: Short-term risk for the US dollar is skewed upwards after Warsh's nomination. 3. RHB Retail Research: Unless gold closes above $5090/oz, the technical outlook remains bearish. 4. ING: Market expectations for interest rate hikes are excessive; the Australian dollar faces downside risks. 5. Amundi: The ECB may open the door to interest rate cuts this year; low inflation will force further intervention. Domestic 1. CICC: It will be difficult for any Fed chairman to shake the normalization of balance sheet expansion. 2. CITIC Securities: A reserve requirement ratio cut is highly probable in Q2 2026. 3. CITIC Securities: Tight supply and demand + upstream transmission; rising prices for electronic components continue to spread. 4. CITIC Securities: OpenAI is being implemented in advertising monetization; large-scale model commercialization is accelerating. 5. CITIC Securities: Solid-state battery pilot line bidding is imminent; bullish on the spring market for lithium battery equipment. 6. CITIC Securities: Global commercial aerospace enters a new phase centered on large-scale deployment and ecosystem building. 7. Galaxy Securities: The extended holiday provides a boost; platforms and duty-free sectors will reap the rewards. 8. Tianfeng Securities: This year's "Spring Festival rally" may be more sustained. 9. Huatai Securities: The VAT adjustment by the three major telecom operators may have a lower impact on profits than directly estimated. 10. Huatai Securities: Bullish on investment opportunities in "three-good" real estate companies, excellent commercial operators, Hong Kong-funded real estate companies, and high-dividend property management companies.