E Fund Gold Mining ETF (02824) fell more than 4% during the trading session. By the time of writing, it had dropped 3.54% to HK$11.73, with a turnover of HK$3.2416 million. In April, gold prices entered a phase of sustained fluctuation. According to analysis, some Middle Eastern countries may need to sell a portion of their reserve assets to support daily fiscal expenditures, social welfare spending, and subsequent infrastructure construction and post-war reconstruction efforts. This process is expected to take considerable time, meaning the pressure on gold prices is unlikely to ease in the near term, and investors should be mentally prepared. Public information shows that E Fund Gold Mining ETF (02824) officially listed on the Hong Kong Stock Exchange on January 30 this year. The ETF aims to closely track the Solactive Global Gold Mining Select Index, which has gained 324.8% since its base date—two to three times the increase of London gold and Shanghai gold over the same period. Leveraging the fixed-cost characteristics of gold mining companies, the ETF acts as an amplifier of gold price movements.
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