According to the Wisdom Financial APP, golden industrial concept collectively declined, as of the time of publication, Lingbao Gold (03330) fell by 4.22%, to HK$2.95; chinagoldintl (02099) fell by 3.74%, to HK$39.85; sd gold (01787) fell by 1.77%, to HK$13.34; zijin mining group (02899) fell by 0.67%, to HK$14.86.

On the news side, according to CCTV News, on the 25th local time, according to the Axios news website in the usa citing a us official, Israel and Hezbollah have reached an agreement on the terms of a ceasefire agreement. The official said that the Israeli Security Cabinet is expected to approve the agreement on the 26th. In addition, last Friday, Trump nominated Scott Bezent to be the Secretary of the Treasury, but he had previously stated that he would urge Trump to reduce the deficit to 3% of GDP during his term. As a result, overnight spot gold plummeted by more than 3%, now trading at $2621.99 per ounce.

Huafu Securities believes that in the short term, Trump's policies have not completely faded, and concerns about future economic stagnation remain in the market, expecting precious metals prices to fluctuate mainly. From a medium to long-term perspective, the monetary policy direction of major global economies is clear, and geopolitical conflicts in Eastern Europe and the Korean Peninsula will continue to highlight the safe-haven characteristics of precious metals, maintaining their long-term allocation value.