[Guosheng Steel] Capital Diversion After Conglomerate Loosening

English summary

This week the market overall remains in adjustment; technology sector funds are diverting to other sectors, some previously siphoned sectors getting compensated, metal sector relatively outstanding. Commodity market oil prices rose sharply again amid geopolitical conflicts, precious metals prices show bottoming characteristics. Earlier Western gold ETF investors sold heavily based on real interest rates, but unlike before, Asian investors especially the People's Bank of China actively entered during pullback, consolidating investment buyer role, offsetting some Western market outflows. Central bank gold accumulation decisions are mainly based on long-term strategic considerations such as monetary sovereignty and reserve diversification, largely detached from short-term price fluctuations. Western investors, especially those allocating via ETFs and macro strategies, tend to reinforce market trends and actively allocate capital during price momentum release. The above participants jointly dominate short-term and medium-long-term volatility. Current geopolitical environment is highly uncertain, making reliable predictions difficult. ...