Sou Hu Cai Jing·2026-01-28 05:21Group 1 - The core viewpoint of the articles highlights the strong performance of precious metals, particularly gold and silver, driven by geopolitical risks and central bank purchases [1][2] - As of January 28, the spot gold price surpassed $5200 per ounce, with major gold jewelry brands in China quoting prices above 1600 yuan per gram [1] - The global official gold reserves have surpassed U.S. Treasury securities for the first time in 30 years, indicating a shift in reserve asset preferences [1] Group 2 - In the copper market, Zambia's copper production is expected to grow by 8% to 890,346 tons by 2025, although it falls short of the 1 million tons target [2] - The London Metal Exchange copper price fell below $13,000, but long-term demand is supported by investments in AI data centers and China's State Grid [2] - The silver market has seen a year-to-date increase of over 55%, with a single-day jump of 8% on January 27 [2] Group 3 - The Precious Metals ETF (516650) closely tracks a series of sub-indices, selecting 50 large, liquid listed companies from related sectors, with top holdings including Shandong Gold and Zhongjin Gold [2]