Market Overview - The A-share market experienced a collective rise, with the Shanghai Composite Index increasing by 0.46%, the Shenzhen Component Index by 1.05%, and the ChiNext Index by 2.29% [1] - Key sectors that led the gains included precious metals, non-ferrous metals, innovative pharmaceuticals, CPO, and storage chips [1] Gold and Mining ETFs Performance - The Gold Stock ETF (517400) closed with a significant increase of 8.41% [2] - The Mining ETF (561330) also saw a notable rise, closing up by 4.04% [3] Reasons for Market Uptrend - The anticipation of interest rate cuts has been a driving factor for the market's upward movement [4] - On August 28, Federal Reserve Governor Waller made dovish comments, indicating support for a 25 basis point rate cut in September and potential further cuts in the next three to six months if economic data shows significant weakness [5] - Concerns over the independence of the Federal Reserve have increased due to Trump's interventions, which may lead to a more dovish stance from the Fed [5] Precious Metals Outlook - In a loose monetary environment, there is optimism for precious metals and resource stocks [6] - The demand for gold as a safe asset is expected to rise due to challenges to the dollar credit system and ongoing geopolitical tensions [6] - China's central bank has been increasing its gold reserves, with the latest data showing a rise to 73.96 million ounces as of the end of July, marking the ninth consecutive month of increases [6] Industrial Metals and Other Resources - The second half of the year may see limited deterioration in supply-demand dynamics for industrial metals, supported by anticipated Fed rate cuts and domestic stimulus policies [7] - The copper consumption off-season is nearing its end, and pre-holiday stocking may provide price support [7] - The outlook for aluminum remains strong due to limited impact from U.S. tariffs and fundamental support [7] Investment Opportunities - Investors are encouraged to consider the Mining ETF (561330) and the Non-Ferrous 60 ETF (159881), which track indices focused on the non-ferrous metals sector [8] - The Mining ETF focuses on companies with non-ferrous metal resources, highlighting the value of domestic mineral resources amid global competition [8]