Di Yi Cai Jing·2025-12-30 00:12Core Viewpoint - The passive selling resulting from the 2026 BCOM rebalancing is characterized as a temporary technical disturbance rather than a negation of long-term allocation logic [1] Group 1: Market Impact - The target weight of precious metals in the index remains at historically high levels, indicating that their structural value in the commodity portfolio has not changed [1] - The passive selling during the rebalancing period primarily affects short-term trading rhythm and price volatility, without altering the long-term positioning of gold and silver in macro hedging, asset allocation, and commodity portfolios [1] Group 2: Future Outlook - Factors such as loose liquidity, rising inflation, and a weak dollar in 2026 are expected to support further increases in gold prices [1] - The technical selling pressure resulting from the index rebalancing is likely to have a relatively limited impact [1]