#美国核心物价涨幅不及市场预估 Beware of Hidden Risks in the A-Share Precious Metals Sector

Topic: US Core CPI Below Expectations

The volatility of US core CPI data often has a ripple effect. Recent data exceeding expectations may seem to signal a warming market sentiment, but this could actually be a trap for false optimism—especially for commodities sectors that heavily rely on global demand.

Taking precious metals as an example. When Federal Reserve policy expectations loosen, funds start flocking to these safe-haven assets. However, the problem is that the entire supply chain hasn't caught up yet. As prices rise, costs also increase, and eventually many companies find their profit margins squeezed. Companies in the A-share related industrial chain that seem to be performing well suddenly issue profit warnings, causing their stock prices to plummet.

The key is to see clearly: improving economic data ≠ these companies making money. Sometimes, macroeconomic conditions improve while micro-level adjustments are still underway, and that period is the most prone to pitfalls. Therefore, when analyzing A-shares, don’t just focus on the rise; understanding the industrial chain logic is even more important.