Group 1 - The 10-year U.S. Treasury yield rose by 11.16 basis points to 4.5985%, marking the first time since February 13 that it surpassed the 4.6% threshold [1] - The 20-year Treasury yield increased by 13.21 basis points, reaching a daily high of 5.1247%, approaching the peak of 5.2838% from November 1, 2023 [1] - The 30-year Treasury yield climbed by 12.27 basis points to 5.0923%, nearing the October 23, 2023 peak of 5.1764% and the psychological 6% level [1] Group 2 - Concerns over U.S. fiscal sustainability have led to a significant sell-off in long-term Treasuries, with the 30-year yield surpassing 5%, raising worries about future financing costs [1] - The U.S. stock market experienced a sharp decline, with major indices recording their worst single-day performance in a month, influenced by the pressures from the bond market [1] Group 3 - From a medium to long-term perspective, the decline in U.S. dollar credit and the onset of a Federal Reserve rate cut cycle, along with global central banks increasing gold purchases, suggest that gold prices may continue to trend upward after a short-term adjustment [2] - The easing of tariff policies has improved market risk appetite, putting pressure on the safe-haven attributes of precious metals in the short term [2] - In the context of global trade policy uncertainty and ongoing central bank gold purchases, gold prices are expected to exhibit a pattern of rising more easily than falling [2] Group 4 - Companies related to gold and precious metals include Zijin Mining (02899), Shandong Gold (01787), Zhaojin Mining (01818), Lingbao Gold (03330), China Gold International (02099), WanGuo Gold Group (03939), LaoPu Gold (06181), and JiHai Resources (02489) [3]