Ge Long Hui·2025-10-13 07:45Market Overview - A-shares and Hong Kong stocks opened lower but rebounded during the trading session, with 73 stocks hitting the daily limit up and 10 stocks hitting the limit down by the end of the day [2][6]. Rare Earth Sector - The rare earth sector saw significant gains, with companies like Baotou Steel Rare Earth and Northern Rare Earth experiencing substantial price increases. The rare earth ETF from E Fund surged by 7.78%, marking a 93.39% increase year-to-date, reaching a historical net asset value high [3][5]. - The Ministry of Commerce announced export controls on certain rare earth materials and equipment, contributing to the price surge. Northern Rare Earth and Baotou Steel Rare Earth raised their prices, with rare earth concentrate prices increasing by 37% month-on-month, the highest since Q2 2023 [6]. - Northern Rare Earth projected a net profit of 1.51 billion to 1.57 billion yuan for the first three quarters, representing a year-on-year increase of 272.54% to 287.34% [6]. Gold Market - Gold prices reached a new historical high, with spot gold exceeding $4,060 per ounce. The gold ETF saw a 2.96% increase, with a year-to-date rise of 49.4% and net inflows exceeding 6.9 billion yuan [7][10]. - The demand for gold as a safe-haven asset has increased due to geopolitical tensions, expectations of interest rate cuts by the Federal Reserve, and political instability in various countries [9]. - Since the end of July, gold prices have risen over 20%, with a year-to-date increase of more than 50% [10]. Silver Market - Silver prices have outperformed gold, with London silver prices soaring above $51.5, marking an increase of over 40% since August and over 78% year-to-date [11]. - A liquidity crisis in the London silver market has led to unprecedented premium levels, making it difficult for short sellers to find physical silver for delivery [12][13]. Trade Relations and Market Sentiment - Recent comments from U.S. Vice President Kamala Harris indicated a willingness for rational negotiations with China, which may influence market sentiment [16]. - Analysts suggest that the current trade tensions may have limited impact on the economic fundamentals, viewing recent market adjustments as potential buying opportunities for quality assets in China [17].