Gold prices continue to climb and many gold-backed ETFs hit new highs

Golden Ten Data reported on April 16 that as of the close of trading on April 16, the price of many gold ETFs hit a record high, and the price of some gold ETFs exceeded 7.5 yuan, such as Huaan Gold Easy ETF and China Gold ETF. Behind the rise in gold-backed ETFs is a record high in gold prices. Recently, a large number of funds have poured into gold ETFs, taking the largest Huaan Gold Easy ETF in China as an example, from April 1 to 15, the fund’s net subscription share was as high as 1.56 billion, and the scale has been close to 55 billion yuan. Regarding the possible short-term fluctuations in gold, CEIBS Wealth said that in the long run, whether it is a recession, stagflation or a soft landing in the United States, it will be good for gold. The long-term investment logic of gold remains unchanged, and if there is short-term volatility, it may be more due to the reduction of risk appetite by leveraged funds, or the pullback brought about by the demand for profit.