Color ETF Penghua up more than 5.2%, with safe-haven and lagging trading still the main focus; precious metals allocation value highlights.

Precious metals concept performance is active. On the news front, spot gold is trading above $4,850 per ounce, up 3.19% intraday. In addition, data released by the People’s Bank of China shows that China’s gold reserves at the end of March were 74.38 million ounces, increasing by 160k ounces month-on-month, marking the 17th consecutive month of net gold purchases.

Hua Fu Securities said that in the short term, the geopolitical situation still dominates the market’s pricing of the U.S. dollar and precious metals. If the subsequent bilateral negotiations between the U.S. and Iran achieve substantive progress, and if nonfarm payroll employment data shows labor-market pressure, there is no lack of possibility that key officials of the Federal Reserve will again make remarks supporting a rate cut in the second quarter. Precious metals may be able to resume their uptrend. In the medium term, after the Federal Reserve chair changes hands in the second half of the year, its policy independence is still likely to be interfered with by the Trump administration. Ultimately, under pressure from economic conditions and a liquidity crisis, the Fed is likely to reopen a rate-cut cycle. In the long term, amid global tariff policy and geopolitical uncertainty, safe-haven and stagflation-trade strategies remain the core of gold trading, and the value of long-term allocation does not change.

As of 11:05 on April 8, 2026, the Guozheng Nonferrous Metals Industry Index (399395) is strongly up 5.17%. Among constituent stocks, Western Gold is up 10.01%, Xingye Silver & Tin is up 10.00%, Huaxi Nonferrous is up 8.90%, while Western Mining and Hunan Gold, among other individual stocks, are also rising in tandem. The Penghua Nonferrous Metals ETF (159880) is up 5.26%, with the latest price at 2.12 yuan.

The Penghua Nonferrous Metals ETF closely tracks the Guozheng Nonferrous Metals Industry Index. The Guozheng Nonferrous Metals Industry Index references the Guozheng industry classification standards, selecting 50 securities with prominent scale and liquidity that belong to the nonferrous metals industry as the sample. It reflects the overall return performance of nonferrous metals industry listed companies on the Shanghai, Shenzhen, and Beijing exchanges, and provides the market with an index-based investment target for a sub-sector.

Data shows that as of March 31, 2026, the top 10 weighted stocks of the Guozheng Nonferrous Metals Industry Index (399395) are Zijin Mining, Luoyang Molybdenum, Northern Rare Earth, Aluminum Corporation of China, Huayou Cobalt, Ganfeng Lithium, China Gold International, Shandong Gold, Yunnan Aluminum Co., and Chifeng Gold. The combined share of the top 10 weighted stocks is 49.08%.

Penghua Nonferrous Metals ETF (159880), OTC feeder (A: 021296; C: 021297; I: 022886).