Market Performance - The three major A-share indices showed mixed results, with the Shanghai Composite Index rising by 0.27% and the Shenzhen Component Index increasing by 0.09%, while the ChiNext Index fell by 0.57% and the North China 50 Index decreased by 0.16% [1] - The total trading volume in the Shanghai, Shenzhen, and Beijing markets reached 29,923 billion yuan, an increase of 708 billion yuan compared to the previous day, with over 3,600 stocks declining [1] Sector Performance - The sectors that performed well included non-ferrous metals, oil and natural gas, coal, chemical industry, soybeans, semiconductors, and real estate [1] - Conversely, the sectors that saw declines included photovoltaic equipment, biological vaccines, education, military equipment, beauty care, and PEEK material concept stocks [1] ETF Performance - The commodity sector experienced a surge, with gold prices surpassing 5,300 USD, leading to a limit-up for several gold stock ETFs, including Ping An Fund, Guotai Fund, and Yongying Fund [1] - The Huatai-PB Fund's China-Korea Semiconductor ETF rose by 7.43%, while the oil and gas resource ETF from Yinhua Fund increased by 5.44% [1] - Vaccine stocks led the decline, with the vaccine ETF dropping by 2.87%, and the photovoltaic ETF from E Fund falling by 2% [2]

特朗普昨日表示，不担心美元贬值可以让其像悠悠球一样涨跌。美元指数DXY在特朗普评论时先小幅拉升，随后大幅下跌超50点，创下2022年2月以来的新 低，非美货币趁势拉高，黄金价格走强。另外，28日消息，泰国央行行长宣布黄金交易禁止做空操作。 | 序号 类型 代码 | | 涨跌幅 ▼ 5日涨跌幅 | | --- | --- | --- | | 1 主 517400 黄金股票ETF | 10.00% | 19.82% | | 2 主 561330 矿业ETF | 7.38% | 15.11% | | 3 主 159881 有色60ETF | 7.37% | 13.99% | 数据来源：Wind，截至2026/1/28 收盘 现货黄金价格加速上冲站上5200美元/盎司整数关口，黄金股票、有色金属板块大涨。截至今日（1月28日）收盘，黄金股票ETF（517400）10cm涨停，矿业 ETF（561330）涨幅7.38%，有色60ETF（159881）涨幅7.37%。 【上涨原因分析】金银继续狂飙 今日，国际现货黄金延续大涨势头，盘中首次突破5200美元，日内涨幅扩大超1%。 近期黄金价格的上涨不仅源于其避险属性，也受益 ...

Core Viewpoint - Chifeng Gold (sh600988) reached its daily limit on January 28, 2026, with a closing price of 46.86 yuan, marking a 10% increase and a total market capitalization of 89.053 billion yuan, driven by strong performance indicators and favorable market conditions [1][2]. Group 1: Performance Indicators - The company announced an expected net profit attributable to shareholders of 3 to 3.2 billion yuan for 2025, representing a year-on-year increase of 70% to 81%, with a non-recurring net profit growth of 75% to 86%, primarily due to a gold production of approximately 14.4 tons and a sales price increase of about 49% [2]. - The net cash flow from operating activities increased by 150.43% year-on-year, and the debt-to-asset ratio improved from 47.25% to 33.85%, indicating a healthier financial structure [2]. Group 2: Market and Technical Analysis - The recent surge in the gold market has contributed to the stock's performance, with multiple stocks in the gold sector showing significant gains on January 28, 2026, creating a sector-wide effect [2]. - Technical analysis indicates a significant inflow of main funds into Chifeng Gold, leading to its strong limit-up performance, with the MACD indicator forming a bullish crossover, suggesting a short-term upward trend [2].

Group 1 - The core viewpoint of the news highlights the significant rise in the stock price of Chifeng Gold, which reached 46.86 yuan with a 10.00% increase, resulting in a total market capitalization of 89.053 billion yuan and a trading volume of 6.158 billion yuan, reflecting a turnover rate of 8.11% [1] - Market speculation around Chifeng Gold is driven by multiple favorable factors, including the continuous rise in international gold prices, which has increased overall attention on the gold sector [1] - Chifeng Gold has disclosed a performance forecast for 2025, expecting a net profit attributable to shareholders of 3 billion to 3.2 billion yuan, representing a year-on-year growth of 70% to 81%, primarily due to stable gold production and rising sales prices [1] Group 2 - The international spot gold price has repeatedly set historical records, with global institutions continuously raising their gold price forecasts [1] - Central banks and sovereign wealth funds are increasing their gold holdings, further enhancing the demand for gold as an asset allocation choice [1] - Uncertainties in geopolitical situations, the global trend of de-dollarization, and concerns over the credibility of fiat currencies are collectively driving up the demand for gold assets [1]

责任编辑：陈平 1月28日，在全球金融市场的剧烈波动中，黄金无疑成为了2026年初最耀眼的明星。一夜之间，国际金 价狂涨接近200点，以势如破竹之势接连攻克5100美元/盎司、5200美元/盎司两大关键关口，不断刷新 历史新高，用实际走势诠释了"一路北上"的强势格局。对于当前的黄金行情，任何试图预判顶部的想法 都显得苍白无力，趋势的力量已然形成，且短期内未见任何掉头迹象。从盘面表现来看，黄金的上涨并 非短期情绪炒作的脉冲式行情，而是有坚实资金支撑的阶梯式攀升。数据显示，1月28日伦敦现货黄金 价格最高达到5247.628美元/盎司，COMEX金价最高触及5238.6美元/盎司，国内沪金主力合约同步刷新 历史高点，早盘最高报1181.8元/克，国内品牌金饰价格也顺势站上1600元/克大关，老凤祥、潮宏基等 品牌足金零售价均突破1610元/克。与此同时，A股贵金属板块同步走强，Wind贵金属指数大涨近6%， 多只黄金股强势涨停，市场做多热情可见一斑。 推动黄金持续走强的核心逻辑的多重共振。一方面，全球地缘局势持续紧张，格陵兰岛问题升级、美国 国内政策不确定性加剧等因素，不断推升市场避险情绪，黄金作为传统避险资产的 ...

Core Viewpoint - The international gold price reached a historical high of $5,266.43 per ounce on January 28, leading to significant increases in A-share gold-related stocks, while several gold-themed funds have suspended subscriptions to manage risks [1][2]. Group 1: Gold Price and Market Reaction - As of January 28, the London spot gold price hit a record high, continuing a trend of daily increases since January 19 [1]. - A-share gold concept stocks, including companies like Zhaojin Mining and Sichuan Gold, experienced notable price surges, with several stocks hitting the daily limit [2]. Group 2: Fund Subscription Suspension - Several gold-themed funds, including E Fund's gold-themed LOF and Guotai Junan's silver futures LOF, announced a suspension of subscriptions starting January 28 [2][3]. - The suspension is viewed as a typical risk management mechanism, reflecting the scarcity of such funds and their increasing investment appeal [2]. Group 3: Fund Performance and Profitability - In the fourth quarter of 2025, six out of the top ten funds by profit were gold ETFs or related funds, indicating strong performance in this sector [4]. - The overall profit for funds related to gold and silver exceeded 10 billion yuan for 12 out of 25 funds, showcasing the profitability of gold-related investments [4][5]. Group 4: Future Outlook on Gold Prices - Analysts suggest that while gold prices may experience fluctuations, the underlying bullish logic remains intact, supported by short-term geopolitical risks, mid-term policy expectations, and long-term structural weaknesses in the dollar credit system [5].

Group 1 - Gold prices experienced fluctuations, with both spot and futures prices surpassing $5,260, leading to a surge in gold-related stocks such as Xiaocheng Technology, China Gold, and others, which saw significant gains [1] - As of January 28, the gold ETF Huaxia (518850) rose by 3.09%, while the non-ferrous metal ETF (516650) increased by 6.07%, and the gold stock ETF (159562) surged by 8.21%, with a year-to-date increase of 48.95% [1] - The gold stock ETF (159562) has seen a net subscription of 2.938 billion yuan over the past 11 trading days, with its latest scale reaching 7.319 billion yuan as of January 27 [1] Group 2 - The gold stock ETF (159562) tracks the CSI Hong Kong-Shenzhen Gold Industry Stock Index, benefiting from rigid mining costs and profit growth driven by rising gold prices, with mining companies' production expansion leading to performance growth exceeding gold price increases [3] - The disclosed 2025 annual report forecasts for the index's constituent stocks indicate an average net profit growth of 120% for companies expected to perform well, suggesting a potential for a strong earnings season as reports are released [3]

封面新闻记者 边雪 黄金市场，正在不断刷新人类对"硬通货"的认知。 1月28日，现货黄金价格延续近期强劲涨势，在早盘首次突破5200美元/盎司关口，截至发稿，金价仍持续攀升，最高报5233.93美元/盎司。 2026年1月以来，金价累计上涨已超过880美元，年内涨幅超20%。当被问及对当前历史性高位的黄金市场有何建议时，广东省黄金协会监事长兼首席分析 师朱志刚告诉封面新闻记者，当前黄金市场正处于"所有指标都可能失灵"的状态。"大家现在基本上都看涨了。"面对这样的市场情绪，他提醒投资者，虽 然长期看涨趋势明显，但短期暴涨同样伴随着暴跌风险。 黄金价格下一步还会涨吗？朱志刚透露："年初的预测是突破5000美元/盎司，已经被突破了，下一个目标是6400美元/盎司。" 金价与金饰价格联动飙升 受金价强势带动，A股黄金概念股亦表现活跃。1月28日，中国黄金实现4连板，湖南黄金收获3连板，其他多家黄金公司股价均显著上涨。 对于尚未进入市场的投资者，"任何投资品都不是只涨不跌的，都会涨涨跌跌。"朱志刚建议以"储备资产"的心态购买黄金，"能买到就不要在乎它价高价 低"，而不是以炒作心态进入市场。 对于同样表现强势的白银和铜， ...

Group 1 - The core viewpoint of the article highlights a historic bull market in precious metals, with gold surpassing $5,250 and silver breaking through $114 per ounce, indicating a strong upward trend in prices [1][2][3]. - Year-to-date, gold and silver have shown significant gains, with gold up over 21% in the last month and more than $900 this month, while silver has surged nearly 60% [3][5]. - The secondary market has seen a frenzy in precious metal stocks, with multiple companies experiencing consecutive trading limit increases, including Silver Nonferrous and Sichuan Gold [5][6]. Group 2 - The driving force behind the gold and silver rally is attributed to the depreciation of the US dollar and geopolitical tensions, particularly influenced by statements from former President Trump [7][10][11]. - The dollar index has fallen to a near four-year low, prompting a rush of safe-haven investments into gold [10][11]. - Concerns over Trump's inconsistent policies and geopolitical risks, including tensions with Iran, have further fueled demand for gold as a safe asset [12][13][14]. Group 3 - Recent data indicates a significant inflow of capital into commodities, with precious metals being the primary focus, as evidenced by a $215 billion net inflow into the precious metals sector [21][24]. - Major financial institutions have raised their gold price forecasts, with Goldman Sachs increasing its 2026 gold price expectation from $4,900 to $5,400, and Societe Generale predicting prices could reach $6,000 per ounce [29][30]. - The current market dynamics suggest that the upward momentum for gold is far from over, with potential prices reaching $7,100 per ounce by the end of 2026 if the current growth trend continues [31].

华鑫证券指出，美国11月核心PCE物价指数环比温和增长0.2%，叠加市场对年内美联储仍将降息的预期 强化，贵金属价格获得持续支撑；周内伦敦黄金价格上涨7.27%至4946.25美元/盎司，显示在通胀数据 趋稳与货币政策转向预期共振下，黄金资产配置价值进一步凸显。 黄金股票ETF基金紧密跟踪中证沪深港黄金产业股票指数，中证沪深港黄金产业股票指数从内地与香港 市场中，选取50只市值较大且业务涉及黄金采掘、冶炼、销售的上市公司证券作为指数样本，以反映内 地与香港市场中黄金产业上市公司证券的整体表现。 风险提示：基金有风险，投资需谨慎。基金管理人承诺以诚实信用、勤勉尽责的原则管理和运用基金资 产，但不保证本基金一定盈利，也不保证最低收益。基金管理人提醒投资人基金投资的"买者自负"原 则，在做出投资决策后，基金运营状况与基金净值变化引致的投资风险，由投资人自行负担。基金的过 往业绩及其净值高低并不预示其未来业绩表现，基金管理人管理的其他基金的业绩不构成对本基金业绩 表现的保证。投资人购买基金，既可能按其持有份额分享基金投资所产生的收益，也可能承担基金投资 所带来的损失。投资人应当认真阅读《基金合同》《招募说明书》等基金 ...