贵金属破纪录、有色集体上扬，大宗商品涨声一片！

Group 1 - The global commodity market is experiencing a surge, particularly in precious metals, driven by macroeconomic, industrial, and geopolitical factors, with gold prices surpassing $4000 per ounce [1] - Analysts suggest that gold prices could theoretically rise to $8500 due to ongoing trends in de-dollarization and increased demand for safe-haven assets [1][6] - The domestic market is expected to continue its upward trend post-holiday, but there are concerns regarding traditional demand in sectors like real estate and appliances, as well as potential shifts in Federal Reserve policies [1] Group 2 - The recent rise in gold prices has led to a significant expansion of gold ETFs, with several products surpassing 10 billion yuan in scale, indicating strong investor interest [2][3] - The performance of gold ETFs is closely linked to gold price movements, with notable inflows observed during periods of price increases, particularly in early 2023 [3] - Major gold-related companies have seen their stock prices rise sharply, attracting attention from institutional investors, with significant participation in earnings meetings from various funds [4][5] Group 3 - The current market is perceived to be in the early stages of a "third wave" bull market for gold, supported by expectations of Federal Reserve interest rate cuts and historical performance during recessionary periods [6][7] - Analysts highlight that gold's value as a reserve asset is becoming increasingly prominent, especially as the credibility of the dollar faces challenges [7] - The relationship between gold prices and U.S. Treasury yields has shifted, with gold now being more influenced by its reserve value rather than just its trading value [6][7]