有色60ETF（159881）涨超2.2%，黄金、工业金属“安全资产”价值凸显

Group 1 - The core viewpoint of the article highlights the rising value of "safe assets" such as gold and industrial metals during the current Kondratiev wave downturn, driven by expanding dollar credit cracks and increasing geopolitical uncertainties [1] - The West Securities report indicates that in a Kondratiev downturn, commodities experience a supercycle driven by the credit cracks of the dominant currency, with gold typically leading the price increases followed by industrial metals [1] - Historical analysis of past Kondratiev downturns shows a clear rotation pattern in commodity supercycles, where economic stagnation exacerbates wealth inequality and leads to a rise in protectionism and populism, shifting the global focus towards "safety" [1] Group 2 - Countries are beginning to establish "redundant inventories" and "local supply chains" for core industrial metals, transitioning from a "zero inventory" to a "high inventory" paradigm, which is expected to create significant structural safety premiums and drive up prices of industrial metals like copper [1] - The Colored Metal 60 ETF (159881) tracks the CSI Colored Metal Index (930708), which selects listed companies involved in the mining, smelting, and processing of non-ferrous metals, covering various metal sectors including copper, aluminum, and gold [1]