Core Viewpoint - The gold stock sector experienced a pullback, with the gold stock ETF (517400) dropping over 3%, but institutional analysts believe that gold prices remain strongly supported [1]. Group 1: Economic Context - Federal Reserve Chairman Jerome Powell expressed concerns about inflation during a recent speech, indicating that as the economy slows, unemployment is likely to rise, which could lead to increased inflation due to tariffs being passed on to the public [1]. - The CME FedWatch tool indicates that the Federal Reserve is expected to cut interest rates four times in 2025, specifically in June, July, September, and December, with each cut being 25 basis points [1]. Group 2: Investment Opportunities - Given the backdrop of potential stagflation risks in the U.S. economy due to tariffs, the gold stock ETF (517400) is seen as an ideal tool for investors to capitalize on opportunities in the gold market [1]. - The ETF tracks the CSI Gold Industry Stock Index (index code: 931238.CSI), which includes large-cap A-share and Hong Kong-listed companies involved in gold mining, refining, and sales, reflecting the overall performance of the gold industry [1]. - Investors without stock accounts can access investment opportunities in the gold industry through the linked fund of the gold stock ETF (021674) [1].