Group 1 - The A-share market saw a collective decline in major indices on May 16, while the CSI Hong Kong and Shanghai Gold Industry Stock Index rose against the trend [1] - The Gold Stock ETF (517520) increased by 1.20%, with a trading volume exceeding 60 million yuan, making it the leading product in its category [1] - The Gold Stock ETF (517520) achieved a cumulative growth of 23.80% in net asset value for the first quarter, with a year-to-date share increase of 1.344 billion shares, and a current scale of 3.857 billion yuan [1] Group 2 - The U.S. CPI data for April showed a year-on-year increase of 2.3%, the lowest since February 2021, which was below the previous month's 2.4% and market expectations [2] - Core CPI, excluding volatile food and energy prices, rose by 2.8%, aligning with market expectations [2] - Short-term factors such as declining interest rate expectations may suppress gold prices, while medium to long-term trends indicate potential for gold price increases due to high real yields on 10-year U.S. Treasuries and a shift towards stagflation in the U.S. economy [2]