Minsheng Securities' Research Reports indicate that considering the beginning of interest rate cuts in the USA, the market is pricing in the results of these cuts and the current Trump tariff policy may accelerate the pace of secondary inflation. Real interest rates are likely to be continuously suppressed, with multiple factors driving the rise in gold prices. In addition, the ongoing impact of excessive issuance of Global currency is still affecting the creditworthiness of paper money, with increasing demand for gold purchases from central banks around the world. It is recommended to pay attention to investment opportunities in the Precious Metals Sector, maintaining a 'recommended' rating for the Precious Metals Industry in 2025.