Sou Hu Cai Jing·2025-09-05 05:37Core Viewpoint - The recent surge in gold stocks is driven by a combination of rising COMEX gold futures and a bullish stock market, with significant gains observed in gold-related ETFs and individual stocks [1] Group 1: Market Performance - As of 13:15, the gold stock ETF (159562) increased by 4.43%, with a year-to-date gain of 69.75% [1] - Key holdings such as Western Gold reached the daily limit, while Silver Nonferrous approached the limit, and other stocks like Zhaojin Mining, Zijin Mining, and Shandong Gold also showed strong performance [1] - The non-ferrous metal ETF (516650) rose by 3.6%, and the gold ETF Huaxia (518850) increased by 0.32% [1] Group 2: Influencing Factors - The rise in gold stocks is attributed to the ongoing expectations of a Federal Reserve interest rate cut in September, alongside a new high in COMEX gold futures, which surpassed $3600 per ounce [1] - Since July, various factors such as "anti-involution," tariff conflicts, and the anticipation of Fed rate cuts have contributed to volatility in the non-ferrous metal sector [1] Group 3: Comparative Analysis - Gold stocks have increased by 16.39% recently, which is notably lower than the 23.46% rise in other non-ferrous indices and a 50.66% increase in rare earth indices [1] - The ongoing bullish sentiment in the A-share market may lead to a demand for undervalued gold stocks, with expectations for performance recovery and long-term growth potential [1]