Gelonghui September 18 丨 Recently, domestic gold prices have been booming. The retail price of gold jewelry in many brand gold stores has reached 600 yuan/gram. Industry insiders said that the number of people buying gold jewelry increased by at least three times compared to the same period last year, and gold stores saved gold beans by paying wages.

In the commodity market, the main Shanghai Gold Futures contract in the previous period reached a high position in more than 10 years. Against the backdrop of rising domestic gold prices, the net value of gold ETFs also continued to break through.
The net worth of the 14 domestic gold ETFs all recently hit new highs during the year, with the highest return exceeding 12% during the year. The gold ETF Matthew effect in the A-share market is remarkable. There are 14 gold ETFs in the market. Huaan Fund, Bosch Fund, and E-Fangda are in a three-legged trend.

A large amount of capital has poured into gold ETFs, and the value of Huaan Gold ETFs has increased by more than 400 million shares in the past month. It is worth noting that due to the large short-term cumulative increase, gold showed a higher premium rate compared to the external market, and some funds showed signs of withdrawing from profit. On September 15, several gold ETFs showed a group dive at the end of the session. A gold ETF is a type of gold-based investment target.

Currently, domestic gold ETFs invest in gold spot contracts on the Shanghai Gold Exchange and closely track price changes in major gold spot contracts. A first-hand (100 shares) gold ETF fund corresponds to 1 gram of gold, and a gold ETF is equivalent to a certificate of holding physical gold stored on the Shanghai Gold Exchange. In addition, a number of public offerings are also piling up to report gold industry-themed ETFs.

Since September, 7 fund companies have reported gold-themed ETFs, including Huaxia Fund, Ping An Fund, ICBC Credit Suisse Fund, Wells Fargo Fund, Cathay Pacific Fund, Yongying Fund, and Huaan Fund. According to the official website of the Securities Regulatory Commission, on September 4, Yongying Fund's registration materials for the Yongying China Securities Shanghai, Shenzhen and Hong Kong Gold Industry ETF were received; on September 5, Huaxia Fund reported its China Securities Shanghai, Shenzhen and Hong Kong Gold Industry ETF; on September 8, both Ping An Fund and ICBC UBS Fund received registration materials; on September 12, Wells Fargo Fund reported the Fuguo S&P Gold Producer ETF; on September 13, Cathay Pacific Fund received registration materials for the Cathay Pacific China Securities Shanghai, Shenzhen and Hong Kong Gold Industry ETF Received; on September 14, I received information from Huaan Fund Application registration materials for the Huaan China Securities Shanghai, Shenzhen and Hong Kong Gold Industry ETF.

Industry insiders said that many fund companies have recently intensively laid out gold ETFs mainly to supplement product lines. The main tracking target of the products reported by the above fund companies is the China Securities Shanghai, Shenzhen and Hong Kong Gold Industry Stock Index. The index selects 50 securities of listed companies with large market capitalization and whose business involves gold mining, smelting, and sales from the domestic and Hong Kong markets as an index sample to reflect the overall performance of securities of listed companies in the gold industry in the domestic and Hong Kong markets. Currently, the index's weighted stocks include Zijin Mining, Shandong Gold, Zhongjin Gold, and Chifeng Gold.

Many institutions are optimistic that gold prices will continue to rise. The Everbright Securities Research Report pointed out that the growth rate of social consumption in August was higher than market expectations. The growth rate of retail sales in most optional categories improved month-on-month compared to July, and retail sales of gold, silver, jewelry, and cosmetics increased markedly from month to month. In the short term, the Mid-Autumn Festival National Day holiday is coming soon. Offline retail and consumer categories related to festival themes may benefit. We continue to be optimistic about the sales performance of gold jewelry in September and October. In the long run, they are optimistic about the long-term recovery trend of optional consumption, and continue to be optimistic about leading undervalued gold and jewelry companies and leading department stores.

Southwest Securities said that the gold upward cycle is not over: interest rate hikes by relevant US departments are coming to an end, and the actual yield on long-term US bonds and the US dollar cycle are still declining; under energy transformation, anti-globalization, and the stickiness of CPI data in the service sector, it is difficult for the long-term CPI data center to fall rapidly; risk aversion is frequent, and the strategic allocation position of gold has improved.

Wang Youxin, a senior researcher at the Bank of ****, said that judging from subsequent trends, domestic gold prices are likely to remain high in the short term. As we approach the “Eleventh” golden holiday, domestic gold consumption demand is still strong. However, when investing in gold futures and physical gold, investors should not blindly chase the rise; they should invest rationally.