Sou Hu Cai Jing·2025-12-01 02:23Group 1 - The core viewpoint of the article highlights a bullish outlook on precious metals, particularly gold and silver, driven by recent economic data and signals from Federal Reserve officials regarding potential interest rate cuts in December [1] - The report from Guolian Minsheng Securities indicates that the expectation for a rate cut has increased significantly, rising from below 40% to over 80%, which supports the rebound in precious metal prices [1] - The silver market is experiencing accelerated inventory depletion, which may lead to a short squeeze scenario [1] Group 2 - The overall market for non-ferrous metals is supported by multiple factors, including rigid supply, expanding new demand, and improved liquidity, with the CSI Shenwan Non-ferrous Metals Index valuation at a near 10-year low, indicating solid long-term investment value [1] - The recommendation to focus on the non-ferrous metal ETF (512400.SH) is based on the favorable market conditions and the anticipated upward movement of gold and silver prices [1]