Group 1 - The non-ferrous metal sector continues its strong performance, with stocks like Huafeng Aluminum, Baiyin Nonferrous Metals, and Tongling Nonferrous Metals hitting the daily limit, indicating robust market interest [1] - The non-ferrous ETF, Huabao (159876), saw a maximum intraday increase of 3.55%, closing up 3.37%, with a significant net subscription of 55.2 million units, breaking its previous listing high [1] - Geopolitical risks are rising, contributing to increased safe-haven demand and pushing gold prices to a historical high of $4,950 per ounce, with domestic gold jewelry prices reaching 1,500 yuan per gram [3] Group 2 - The long-term outlook for gold prices remains strong due to several factors, including ongoing U.S. fiscal risks, strong global central bank demand for gold, and the expectation of continued interest rate cuts in the U.S. through 2026 [3] - The strong performance of non-ferrous metals is attributed to macro-financial policies and structural changes in supply and demand, particularly driven by emerging demands in AI and new energy sectors [3] - The Huabao non-ferrous ETF and its linked funds cover a wide range of metals, including copper, aluminum, gold, rare earths, and lithium, allowing investors to capture the overall sector's beta performance [3]