China Post Securities in a non‑ferrous metals report said a strong dollar is keeping base metals under pressure. US August nonfarm payrolls beat expectations, raising the probability of a September Fed rate hike. July core PCE remains below the 2% target; if August CPI does not move materially toward 2%, a September hike cannot be ruled out. The report sees little chance of consecutive hikes, so a September increase could mark the peak of tightening and represent bad news exhausted. From an allocation perspective, central banks are materially adding to gold reserves, making gold’s floor more evident. The house views a September hike as likely; if a hike triggers a price pullback, that would be a clear buying opportunity for precious metals.(金十数据)