Color ETF Penghua rises over 2.1%, institutions say precious metals may enter the left-side accumulation zone

The geopolitical situation continues to escalate, and non-ferrous metals, as strategic assets, have once again attracted market attention. In terms of news, Zijin Mining is expected to achieve a net profit attributable to shareholders of 51.8 billion yuan in 2025, an increase of 62% year-on-year, with copper and gold production reaching 1.09 million tons and 90 tons respectively.

Guosheng Securities pointed out that the situation in the Middle East and a strong dollar pressure gold prices, leading gold to enter the left-side batting zone. At the onset of rising tensions in Iran, the global market exhibited dual characteristics of “safe-haven trading” and “stagflation trading,” with the dollar and oil prices strengthening, and significant declines in the stock markets of Japan and South Korea. As the conflict continues to escalate, investors are increasingly concerned that rising oil prices could lead to inflation risks, the dollar remains strong, and market expectations for interest rate hikes are heavily betting. Gold shifted from rising to falling, showing a breakdown trend this week. Currently, gold faces temporary headwinds, which does not change the long-term bullish view. On one hand, if geopolitical tensions ease, there is a logic for gold to catch up; on the other hand, if the conflict continues to escalate, once oil prices break through a certain threshold, investors may focus on stagflation risks, combined with the currently weak economic fundamentals and unsustainable fiscal policies. Even if major global central banks raise interest rates, they will face many constraints. Once the slope of inflation exceeds that of interest rate hikes, gold will strengthen significantly, maintaining bullish confidence.

As of March 24, 2026, at 14:17, the Guozheng Non-Ferrous Metals Industry Index surged by 2.00%. Component stocks such as Shengton Mining rose by 6.92%, Zijin Mining by 4.84%, Xingye Silver Tin by 4.68%, and stocks like Xiamen Tungsten and Zhongjin Lingnan also followed suit. The Non-Ferrous ETF from Penghua increased by 2.15%, with the latest price reported at 1.9 yuan.

The Non-Ferrous ETF from Penghua closely tracks the Guozheng Non-Ferrous Metals Industry Index. The index selects 50 securities belonging to the non-ferrous metals industry based on the Guozheng industry classification standards, emphasizing those with outstanding scale and liquidity, reflecting the overall performance of listed companies in the non-ferrous metals industry on the Shanghai and Shenzhen Stock Exchanges, and providing market participants with index investment targets in the segmented industry.

Data shows that as of February 27, 2026, the top ten weighted stocks in the index are Zijin Mining, Luoyang Molybdenum, Northern Rare Earth, Huayou Cobalt, China Aluminum, Zhongjin Gold, Ganfeng Lithium, Shandong Gold, Xingye Silver Tin, and Xiamen Tungsten, with the top ten stocks accounting for a total of 48.78%.

The Penghua Non-Ferrous ETF (159880) is connected off-exchange (A: 021296; C: 021297; I: 022886).