Sou Hu Cai Jing·2026-02-03 06:32Group 1 - The non-ferrous sector is experiencing a rebound, with companies like Hunan Gold and Northern Rare Earth seeing significant price increases, while the non-ferrous mining ETF has also risen over 2% [1] - Precious metals faced a historic downturn due to trading congestion and external pressures, with silver and gold experiencing maximum daily declines of over 30% and 10% respectively [1][12] - Short-term volatility in precious metal prices is expected due to profit-taking, but long-term trends indicate that the de-dollarization process will continue, suggesting that the current adjustment is not the end of the precious metals market [1][14] Group 2 - The non-ferrous mining ETF tracks an index focused on the upstream mining sector of the non-ferrous metal industry, which shows strong price elasticity and higher beta in commodity bull markets [1] - The non-ferrous mining index has shown a cumulative increase of 353.53% over the past decade, with an annualized return of 16.83% and a Sharpe ratio of 0.7, indicating higher volatility compared to similar indices [9][11] - The index is heavily weighted towards copper, gold, and aluminum, which together account for over 58% of its composition, highlighting its strategic importance in both industrial development and financial markets [4]