Gold prices surged for five consecutive days! The gold ETF (159834) rose 2.7%, while the non-ferrous metals ETF (512400) attracted net inflows of over RMB 4.4 billion in the past ten trading days.

Gelonghui, October 17th | Today's stock market experienced a sharp adjustment, while gold prices hit record highs for the fifth consecutive day, driving the Gold ETF (159834) up by 2.7%, expanding its year-to-date gains to 60%. The Non-Ferrous Metals ETF (512400), which has surged 76% year-to-date, continues to attract net inflows of capital, with a total net inflow of RMB 4.49 billion over the past ten trading days. News highlights: ① On Thursday, the U.S. Senate rejected the temporary funding bill for the tenth time, prolonging the government shutdown and amplifying market uncertainty due to delayed economic data releases. ② Two regional U.S. banks disclosed loan issues involving fraud allegations, sparking investor concerns about bad debts in the banking sector and leading to widespread declines in bank stocks. ③ Escalating trade frictions, along with remarks from Federal Reserve Chair Powell hinting at further interest rate cuts this year, have also fueled safe-haven demand. The Gold ETF closely tracks the price of physical gold contracts on the Shanghai Gold Exchange, offering high transparency and liquidity, supporting T+0 intraday trading, and is linked to off-exchange funds (A: 018391, C: 018392). The Non-Ferrous Metals ETF is currently the only ETF in the market that tracks the CSI Shenhua Non-Ferrous Metals Index, covering core assets across the entire industrial chain including copper, aluminum, lithium, rare earths, and gold. It focuses on key allocations in industry leaders such as Zijin Mining, Northern Rare Earth, Luoyang Molybdenum, Huayou Cobalt, and Chinalco. Year-to-date, non-ferrous metals have led the market rally, with the Non-Ferrous Metals ETF (512400) reaching a latest scale of RMB 18.235 billion, making it the only non-ferrous industry ETF with a market value exceeding RMB 10 billion. Off-exchange linked funds are available (Class A: 004432; Class C: 004433).