黄金上市公司上半年业绩亮眼，黄金股ETF（159562）涨近1%

Group 1 - In July, U.S. inflation indicators showed a gradual recovery, leading to a slight increase in international gold prices, with COMEX gold rising by 0.11% [1] - Gold-related ETFs experienced gains, with Huaxia Gold ETF (518850) up by 0.16% and Gold Stock ETF (159562) rising by 0.91%. Notably, Jiangxi Copper's stock surged over 5%, while Huayu Mining, Zijin Mining, and Tongling Nonferrous Metals also saw significant increases [1] - The non-ferrous metal ETF (516650) rose by 1.03%, with holdings like Bowei Alloys hitting the daily limit, and other stocks such as Huayu Mining, Huafeng Aluminum, and Huaxi Nonferrous Metals showing strong performance [1] Group 2 - Gold mining companies are reporting strong performance in their 2025 semi-annual reports, with notable growth in companies like Western Gold, Hunan Gold, Shandong Gold, and Zhongjin Gold, attributed to high gold prices [1] - Despite increasing expectations for U.S. Federal Reserve interest rate cuts, analysts from Galaxy Futures suggest that the gold market lacks sufficient upward momentum, indicating potential for further adjustments and a high-level range-bound trading pattern in the future [1] - As market consensus on long-term gold price increases solidifies, the investment logic for gold stocks is shifting from short-term production growth to a greater focus on company reserves, highlighting the value of companies with larger reserves [1]