Core Viewpoint - The performance of the non-ferrous metal ETF Huabao (159876) has shown significant volatility, with a daily trading volume of 264 million yuan, indicating strong market activity and potential investment opportunities as funds continue to flow into the ETF [1][10]. Market Performance - The non-ferrous metal ETF Huabao experienced a maximum increase of over 1% in the morning, followed by a decline of over 2.8% in the afternoon, ultimately closing down 1.12% with a total daily fluctuation of 4.23% [1][10]. - The ETF recorded a net subscription of 162 million units throughout the day, with a continuous inflow of funds since January 21 [1][10]. Sector Analysis - The non-ferrous metal sector is expected to see positive earnings in 2025, with 14 out of 16 companies that have released earnings forecasts predicting profits, showcasing the resilience of leading companies in the sector [3][13]. - Notable companies such as Guocheng Mining are expected to see a year-on-year net profit increase of 988% to 1094%, leading the sector in growth expectations [3][14]. Stock Performance - Key stocks in the sector include Hunan Gold, which saw a 10.01% increase, and Silver Nonferrous, which rose by 9.99%, while Guocheng Mining experienced a decline of over 8% [2][12]. - The overall market sentiment is mixed, with some stocks performing well while others drag down the index [4][12]. Future Outlook - Analysts from Southwest Securities believe that the non-ferrous metal industry is entering a resource super cycle, with prices for metals like gold, copper, aluminum, tin, and rare earths expected to rise systematically [13][14]. - Huafu Securities suggests that the non-ferrous metal sector will significantly participate in profit-driven market trends, benefiting from economic recovery and policies aimed at expanding domestic demand [13][14].

太强了！今日（1月27日）有色ETF华宝（159876）继续逆市活跃，场内价格现涨1.12%，冲击日线7连阳，再创历史新高！开盘不足一小时，实时成交额 1.94亿元，交投火热！ 稀土方面，特朗普布局稀土供应链！收购美稀土公司10%股权，公司股价涨超7%国投证券指出，近期稀土持续上涨，利好稀土冶炼企业利润扩张。预计白 名单和配额指标刚性制约2026年供给，内外需求稳定增长，新一轮补库周期可能启动，看好26年稀土价格。 展望有色金属板块后市表现，国投证券指出，金银锡锂等多品种续创历史新高，市场对于有色全面牛市的定价仍在进行中。现阶段有色估值修复力度仍滞后 于商品涨价，建议重视贵金属、工业金属、战略金属等板块的业绩弹性。中长期持续看好金银铜铝锡稀土锂钽铌锑铀等金属。 固然市场整体看涨有色金属板块后市表现，东方金诚指出，短期需警惕投机资金获利了结风险，波动可能加大。华泰证券建议，中配有色金属板块，即在自 己的基金组合中占比10%-20%，既能够分享有色金属上涨红利，还能够分散风险。 【有色风口已至，"超级周期"势不可挡】 有色ETF华宝（159876）及其联接基金（A类：017140，C类：017141）标的指数全面 ...

太强了！今日（1月27日）有色ETF华宝（159876）继续逆市活跃，场内价格现涨1.12%，冲击日线7连 阳，再创历史新高！开盘不足一小时，实时成交额1.94亿元，交投火热！ 资金加速抢筹！截至发稿，有色ETF华宝（159876）获资金实时净申购1.42亿份，拉长时间来看，近20 日狂揽10.28亿元！数据显示，截至1月26日，该ETF最新规模21.6亿元，创历史新高！ | 序号 | 名称 | 涨跌幅 ▼ | 两日图 | 申万一级行业 | 申万二级行业 | 申万三级行业 | 总市值 | 成交額 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1 | 湖南黄金 | 10.01% | | 有色金属 | 贵金属 | 黄金 | 434亿 | 5001.62万 | | 2 | 白银有色 | 9.90% | | 有色金属 | 工业金属 | 相 | 929亿 | 64.04亿 | | 3 | 紫金矿业 | 7.16% | Now | 有色金属 | 工业会展 | 报 | 11128亿 | 175.40亿 | | प | 西部黄金 | 6.20% | P ...

1月27日，鹏欣资源盘中下跌2.04%，截至10:08，报10.08元/股，成交8.17亿元，换手率4.01%，总市值 223.06亿元。 资金流向方面，主力资金净流入218.51万元，特大单买入1.45亿元，占比17.72%，卖出1.29亿元，占比 15.78%；大单买入1.90亿元，占比23.23%，卖出2.03亿元，占比24.90%。 分红方面，鹏欣资源A股上市后累计派现1.66亿元。近三年，累计派现0.00元。 机构持仓方面，截止2025年9月30日，鹏欣资源十大流通股东中，香港中央结算有限公司位居第五大流 通股东，持股2631.52万股，相比上期增加1125.64万股。南方中证1000ETF（512100）位居第八大流通 股东，持股1415.71万股，相比上期减少15.60万股。 责任编辑：小浪快报 资料显示，鹏欣环球资源股份有限公司位于上海市闵行区联航路1188号32号楼，成立日期2000年9月29 日，上市日期2003年6月26日，公司主营业务涉及金属铜、金、钴等金属的开采、冶炼、加工及销售,业 务范围还包括贸易、金融以及生态修复等领域。主营业务收入构成为：贸易业务51.07%，工业 48.68 ...

南财投研通数据显示，1月26日，券商给予上市公司目标价共9次，按最新收盘价计算，目标价涨幅排名居前的公司有百利天恒、洛阳钼业、三七互娱，目标 价涨幅分别为368.30%、37.88%、29.53%，分别属于化学制药、工业金属、游戏行业。 | 证券代码 | 证券名称 | 机构 | 最新评级 | 最高目标价 | 目标涨幅 | | --- | --- | --- | --- | --- | --- | | | | | | (元) | (%) | | 688506 | 百利天恒 | 中信证券 | 买人 | 1322.00 | 368.30 | | 603993 | 洛阳辑业 | 中信证券 | 买人 | 34.00 | 37.88 | | 002555 | 三七互娱 | 中信证券 | 买人 | 35.00 | 29.53 | | 002142 | 宁波银行 | 国泰海通证券 | 增持 | 38.89 | 28.39 | | 688599 | 天合光能 | 国泰海通证券 | 增持 | 26.42 | 28.13 | | 300401 | 花园生物 | 中信证券 | 买人 | 22.00 | 25.28 | | 60042 ...

但有个坑一定要避开，很多人看到白银暴涨就想追高，可别忘了2008年白银暴涨后又快速回调的教训， 高波动品种千万别加杠杆，仓位控制在总资产3%-5%以内，中长线投资稳字当头。还有油价，虽然这次 跌了，但中东局势紧张、美国取暖需求还在，后续可能震荡，普通投资者别轻易碰原油期货，想布局可 以选油气ETF，风险更低。 你觉得白银能继续暴涨吗？油价后续会不会反弹？评论区说说你的判断。 帮主说句实在的，20年财经生涯里，见过不少大宗商品异动，但像现在这样"贵金属独疯、能源金属分 化"的格局，核心就一个：资金在扎堆"避险+刚需"双逻辑的品种。黄金能涨到5100美元，可不只是简 单避险，现在全球投资者都在抛美债、卖货币，把黄金当新的"财富锚"，去年涨成1979年以来最佳，今 年又涨17%，这是货币信用松动的必然结果；白银更狠，单日飙14%，既有黄金的金融属性，又有光 伏、新能源的工业刚需，连续5年供应短缺，库存见底，这是双重驱动的爆发力。 而油价下跌就好理解了，哈萨克斯坦的黑海码头恢复运行，Tengiz油田也要重启，新增供应盖过了美国 暴风雪的影响，供需一平衡，价格自然回落。伦铜走高则是因为工业需求回暖，毕竟制造业复苏离不开 ...

2026.01.26 本文字数：3933，阅读时长大约6分钟 作者 |第一财经 黄思瑜 1月26日，黄金白银走出史诗级行情，铂金和钯金也强势上涨，还有多个有色金属品种上涨。金属价格 狂飙之下，A股市场贵金属板块领涨，国内期货市场相关品种价格也大涨。 当日，伦敦现货黄金价格强势突破5100美元/盎司关口，伦敦白银现货价格在前一个交易日首次收于100 美元/盎司上方后，继续创出新高；铂金和钯金的现货和期货价格也均大幅上涨。A股相关行业亦迎来联 动行情，贵金属指数以7.3%的涨幅领涨，基本金属指数以2.73%的涨幅位居第三，相关个股掀起涨停 潮。 国信期货首席分析师顾冯达对第一财经分析称，以金银铜铝为代表的国际化战略性资源品价格强势突 破，其核心驱动力已超越传统供需框架，演变为全球金融资本在各国政策刺激、大国地缘博弈及东西方 资产配置重塑背景下，对稀缺资源展开的集中配置与博弈。 展望后市，多位券商分析师称，中长期看好盈利弹性预期较大的涨价链。对于金属品种的后市价格预 期，多位期货分析师认为，贵金属市场整体维持强势格局，但在当前高波动行情下，策略上必须兼具趋 势跟随与风险敬畏，根据自身风险承受能力审慎参与，避免高杠杆 ...

Core Viewpoint - The article discusses the significant surge in precious metal prices, including gold, silver, platinum, and palladium, driven by global financial capital dynamics and geopolitical factors, leading to a bullish outlook for related A-share and futures markets [3][6][14]. Group 1: Market Performance - On January 26, gold prices in London surpassed $5100 per ounce, while silver prices exceeded $100 per ounce, marking a historic high [3][6]. - The A-share market saw the precious metals sector lead with a 7.3% increase, while basic metals rose by 2.73% [3][4]. - Individual stocks in the gold and rare metals sectors experienced significant gains, with several reaching their daily limit [5][6]. Group 2: Price Drivers - Analysts attribute the price surge to a combination of short-term geopolitical risks, medium-term policy expectations, and long-term structural weaknesses in the dollar credit system [6][14]. - The strong performance of platinum and palladium is linked to the overall capital flow into precious metals, as investors seek to capitalize on rising prices [7][14]. Group 3: Company Performance - In 2025, international gold prices rose over 60%, and silver prices increased by more than 140%, positively impacting the earnings of many listed companies [8][9]. - Companies like Zhaojin Mining and Hunan Gold reported significant profit increases due to rising metal prices, with Zhaojin expecting a profit turnaround from a previous loss [8][9]. - Other companies, such as Xianglu Tungsten and Zijin Mining, also forecast substantial profit growth driven by higher metal prices and improved operational efficiencies [9][10]. Group 4: Future Outlook - Analysts maintain a bullish long-term outlook for precious metals, with expectations that gold prices could challenge the $6000 per ounce mark in 2026 [14]. - The article emphasizes the importance of cautious investment strategies in the current high-volatility environment, recommending a combination of dollar-cost averaging and careful risk management [14].

Investment Rating - The report maintains an "Overweight" rating for the non-ferrous metals sector [1] Core Views - The non-ferrous metals sector saw a weekly increase of 6.03%, ranking it among the top sectors [14] - Precious metals experienced significant price increases, with gold prices rising due to geopolitical tensions and concerns over sovereign currency credit [4][52] - The report highlights the impact of rising global bond yields on the valuation of both industrial and precious metals [27][50] Summary by Sections Market Review - The Shanghai Composite Index rose by 0.84%, with the non-ferrous metals sector outperforming the index by 5.20 percentage points [14] - Precious metals led the sector with an 18.46% increase, followed by small metals at 8.68% and energy metals at 6.01% [14] Industrial Metals - **Copper**: Prices are expected to remain strong despite seasonal demand weakness, with LME copper closing at $13,129 per ton, up 2.54% week-on-week [2][33] - **Aluminum**: Prices are supported by a high copper-aluminum ratio, with LME aluminum at $3,174 per ton, up 1.26% week-on-week [3][39] - **Zinc**: Prices showed mixed results, with LME zinc at $3,269 per ton, up 1.87% week-on-week, while SHFE zinc fell by 0.67% [44] - **Tin**: Prices surged due to macroeconomic sentiment and supply constraints, with LME tin at $56,605 per ton, up 17.97% week-on-week [49] Precious Metals - Gold prices increased significantly, with COMEX gold closing at $4,983.10 per ounce, up 7.85% week-on-week [50][53] - The rise in bond yields across the US, Europe, and Japan has further enhanced the valuation of precious metals, leading to increased demand for physical assets [4][52]

1月26日，黄金白银走出史诗级行情，铂金和钯金也强势上涨，还有多个有色金属品种上涨。金属价格 狂飙之下，A股市场贵金属板块领涨，国内期货市场相关品种价格也大涨。 当日，伦敦现货黄金价格强势突破5100美元/盎司关口，伦敦白银现货价格在前一个交易日首次收于100 美元/盎司上方后，继续创出新高；铂金和钯金的现货和期货价格也均大幅上涨。A股相关行业亦迎来联 动行情，贵金属指数以7.3%的涨幅领涨，基本金属指数以2.73%的涨幅位居第三，相关个股掀起涨停 潮。 国信期货首席分析师顾冯达对第一财经分析称，以金银铜铝为代表的国际化战略性资源品价格强势突 破，其核心驱动力已超越传统供需框架，演变为全球金融资本在各国政策刺激、大国地缘博弈及东西方 资产配置重塑背景下，对稀缺资源展开的集中配置与博弈。 展望后市，多位券商分析师称，中长期看好盈利弹性预期较大的涨价链。对于金属品种的后市价格预 期，多位期货分析师认为，贵金属市场整体维持强势格局，但在当前高波动行情下，策略上必须兼具趋 势跟随与风险敬畏，根据自身风险承受能力审慎参与，避免高杠杆下的非理性投机。 金属价格狂飙下A股、期市相关标的齐涨 1月26日，A股四大指数集体收跌 ...