ETF甄选 | 2025年世界VR产业大会即将召开，黄金ETF逆势走强，消费电子、人工智能等ETF显著回调

Market Overview - The market experienced a significant decline on October 17, 2025, with major indices closing down: Shanghai Composite Index fell by 1.95%, Shenzhen Component Index by 3.04%, and ChiNext Index by 3.36% [1] Sector Performance - Precious metals, gas, and airport sectors showed strong gains, while power equipment, grid equipment, and photovoltaic equipment sectors faced notable declines [1] - Major capital inflows were observed in precious metals, airport, and mining sectors [1] ETF Performance - Gold-related ETFs performed well, likely influenced by relevant news, while consumer electronics and artificial intelligence ETFs saw significant pullbacks [2] Gold Market Insights - Spot gold prices surpassed $4,300 per ounce, marking a year-to-date increase of over 60% and a doubling since the beginning of 2024 [3] - Zhejiang Securities indicated that the financial attributes of gold are expected to support further price increases, with gold serving as a safe haven if market sentiment shifts [3] - Long-term trends suggest that the decline in dollar credibility is a primary narrative driving the current gold bull market [3] AI and Consumer Electronics - The 2025 World VR Industry Conference is set to take place on October 19-20, featuring major tech companies like Huawei, Apple, Alibaba, and Xiaomi, focusing on AI-powered glasses and innovative applications [3] - Shanghai Securities noted that the consumer electronics sector is recovering due to the synergy between AI technology and national replacement cycles, with new interaction modes like screenless and voice interfaces expected to shape future AI terminal forms [4] AI Infrastructure Development - The Ministry of Industry and Information Technology is promoting a "millisecond computing" initiative to enhance network capabilities across the country by 2027 [4] - TSMC reported strong demand for AI applications, indicating a tight supply of AI capacity and efforts to increase production by 2026 [4] AI Market Trends - Zhejiang Securities highlighted sustained high demand in the global AI sector, with significant investments from leading companies like OpenAI, Oracle, and Google [5] - The domestic internet giants are expected to accelerate investments in AI infrastructure, leading to rapid growth for local computing companies [5]