CITIC Futures: Prefer IC, IH, Copper and Aluminum; Stay Cautious on Gold

CITIC Futures said in a research note that, on a quarterly basis, assets more closely tied to the AI industry may continue to outperform those mainly driven by financial conditions, and it continues to recommend long positions as core allocations in IC and IH index futures, as well as copper and aluminum, according to 36Kr. The firm said recent signs of cooling in AI-related trading and uncertainty from new changes in US Federal Reserve monetary policy could keep markets volatile, and it advised balanced portfolio positioning, short-term caution, and attention to opportunities in long US dollar and government bond yield-curve strategies. On gold, CITIC Futures said the metal is facing dual pressure from the US dollar and interest-rate expectations, with technical levels breaking down and limited rebound potential; it recommended staying on the sidelines in the near term and watching for a rebound later in Q3 if hawkish Fed expectations ease.