November 6, 2025，The annual "C5+1" summit between the United States and the five Central Asian countries was held in Washington. The Trump administration prioritized key minerals in its foreign policy, emphasizing the importance of Central Asian resources and aiming to broaden the supply chain of key minerals through deepening partnerships to safeguard U.S. economic security. This summit focused on three main areas: the business environment, trade and investment and key minerals, and connectivity across the Caspian Corridor. It did not address climate change or security cooperation, a departure from the comprehensive cooperation approach of the Biden administration.

Amidst the rare earth competition, Central Asia has become a focal point of the "21st-century great game" between the US, China, and Russia. On November 6th, Trump hosted the leaders of five Central Asian countries at the White House, with the core objective being the acquisition of rare earth and other key minerals. China controls approximately 90% of the world's rare earth processing capacity. After expanding export restrictions in October 2024, the US is eager to find alternative supply sources, making resource-rich Central Asia a key target, especially given the potential to leverage the "Middle Corridor" to secure transportation routes.

Despite being severely impacted by a major mine accident, Codelco, the world's largest copper producer, has clearly stated that its copper production in 2025 and 2026 will be slightly higher than that in 2024. This confidence stems from its multi-dimensional strategic planning and adjustment capabilities.

A report released by the World Gold Council on October 30th shows that global gold demand (including over-the-counter transactions) will reach 1,313 tons in the third quarter of 2025, amounting to USD 146 billion. This marks a record high for single-quarter demand, with both supply and demand increasing simultaneously.

Amidst high-level fluctuations in the international gold market, gold-themed wealth management products continue to attract investor interest. As of October 23rd, there were 47 existing wealth management products with "gold" in their names. Banks' wealth management companies have become the core issuers, with leading institutions such as Everbright Wealth Management, CMB Wealth Management, and ICBC Wealth Management all launching such products, providing investors with diverse participation channels.