Public Funds Report Increase in Gold Mining Theme ETFs
In a recent trend, public funds have been intensively deploying gold mining theme-related ETFs. Huatai-PineBridge Fund, Yinhua Fund, and Harvest Fund have all reported gold mining theme-related ETFs, signaling a growing interest in gold as an investment option.
The official website of the China Securities Regulatory Commission shows that Huatai-PineBridge Fund and Yinhua Fund recently reported the CSI Global Gold Mining Theme ETF, while Harvest Fund reported the CSI Select Market Gold Mining Theme ETF. These ETFs select 50 securities of listed companies with large market capitalization in gold mining, smelting, and other related fields to reflect the overall performance of representative gold mining listed companies in the global securities market and selected markets.
This surge in interest in gold mining theme ETFs comes as the price of gold has hit new highs repeatedly in 2023 and has continued to perform strongly in 2024. The demand for gold has also seen a significant increase, with global gold demand in 2023 reaching a record high of 4,899 tons, according to the latest “Global Gold Demand Trend Report” released by the World Gold Council.
Industry experts believe that there are positive signals for gold investment in 2024, including the expected start of an interest rate cut cycle by the Federal Reserve and the continued trend of gold purchases by global central banks.
The intensified efforts in gold mining theme ETFs by public funds reflect the growing attention and demand for gold as a valuable investment option. As gold continues to perform well and global demand remains strong, the gold mining theme ETFs are likely to attract further interest from both institutions and individual investors seeking to capitalize on the investment opportunities in gold.