Group 1 - The core viewpoint of the article highlights a strong performance in the non-ferrous metals sector, with a notable increase in the popular ETF, Non-Ferrous ETF (159876), which saw a maximum intraday rise of over 3.7% and closed up 3.18% on the first trading day of the Year of the Horse [1][7] - The Non-Ferrous ETF attracted a net subscription of 6 million units throughout the day, indicating positive market sentiment towards the sector [1][7] - Key stocks within the sector, such as Baiyin Nonferrous and Hunan Baiyin, hit the daily limit, while others like Vanadium Titanium Co., Shengxin Lithium Energy, and Yongxing Materials saw increases of over 7% [1][7] Group 2 - Recent strength in gold and silver prices is closely linked to rising market risk aversion, driven by two main factors: the implementation of a 10% global tariff by Trump and ongoing geopolitical tensions between the US and Iran [3][9] - UBS anticipates that geopolitical risks will remain high, and the ongoing easing cycle by the Federal Reserve is expected to exert pressure on real interest rates, potentially leading to a rise in gold prices [3][9] - Citic Securities suggests that the bullish sentiment in the gold market may extend to the non-ferrous metals sector, supporting the continuation of a bull market in this area [3][9] - Bank of China Securities predicts that by 2026, the non-ferrous metals sector may experience a dual increase in profits and valuations, driven by a strong cyclical attribute and financial trends [3][9] Group 3 - The Non-Ferrous ETF (159876) and its linked funds comprehensively cover various industries including copper, aluminum, gold, rare earths, and lithium, allowing for better capture of the sector's beta performance across different economic cycles [3][9] - The ETF serves as an efficient tool for investors looking to gain exposure to the non-ferrous metals sector, being a financing and margin trading target [3][9]

昨日（1月28日）有色金属板块领涨两市，白银有色、湖南黄金、中国铝业等16只成份股涨停，有色 ETF华宝（159876）场内价格飙涨6.95%，续创历史新高！深交所数据显示，该ETF单日吸金1.85亿元， 拉长时间来看，此前20日连续吸金，合计狂揽超14亿元！ 值得一提的是，今日（1月29日）盘中现货黄金首次突破5500美元大关，本周金价从略低于5000美元的 水平一路狂飙，连破6道整百关口，周涨幅超500美元。 消息面上，北京时间周四（1月29日）凌晨，美联储结束为期两天的货币政策会议，宣布将联邦基金利 率目标区间维持在3.5%至3.75%之间，符合市场普遍预期。美联储暂停降息但释放未来宽松预期，叠加 市场对鸽派美联储主席人选的押注，推动贵金属避险及抗通胀属性凸显。 中信建投证券认为，只要美联储还处于降息通道中，有色金属价格仍有上涨动力。东方证券指出，美联 储降息周期里，供需偏紧的实物资产，即使是较小的供需缺口也有望产生较大的价格弹性。本轮降息周 期下，以铜、铝为代表的工业金属超级周期或已来临。 另一方面，芝加哥商品交易所对部分白银、铂金和钯金期货合约的保证金参数进行调整，部分白银合约 的新保证金比例提高至 ...