Gold stock ETF Huaxia closes down over 3%, Goldman Sachs remains bullish on gold, with a year-end target price of $5,400.

As of the market close on March 26, 2026, the CSI Hong Kong-Shenzhen Gold Industry Stock Index (931238) fell by 3.08%. The constituent stock Zijin Mining led the decline with a drop of 7.57%, followed by Shandong Gold with a decrease of 6.55%, and Chifeng Jilong Gold falling by 5.14%. The Gold Stock ETF Huaxia (159562) decreased by 3.02%, with the latest price at 2.31 yuan; the Gold ETF Huaxia (518850) fell by 1.91%, with the latest price at 9.53 yuan.

On the news front, spot gold experienced a sharp drop in the afternoon, with the intraday maximum decline expanding to 2%, currently fluctuating around the price of $4,430.

Goldman Sachs stated that extreme market pressure can also impact gold prices, as investors facing margin calls often sell gold along with other assets; however, Goldman Sachs remains optimistic about the market outlook, expecting gold prices to reach $5,400 by the end of the year. Analysts at Bank of Montreal (BMO) also noted that “once risk appetite returns,” gold will recover “most” of the ground lost during the conflict.

The Gold Stock ETF Huaxia (159562) closely tracks the CSI Hong Kong-Shenzhen Gold Industry Stock Index, which covers leading enterprises involved in gold mining, smelting, and sales across the three regions of Shanghai, Hong Kong, and Shenzhen. As of February 27, 2026, the top ten weighted stocks in the index are Zijin Mining, Zhongjin Gold, Shandong Gold, Chifeng Jilong Gold, Zhaojin Mining, Shanjin International, Hunan Gold, Zijin Gold International, Zijin Mining, and Shandong Gold, with the top ten weighted stocks accounting for 61.77% in total.

Gold Stock ETF Huaxia (159562), external connection A: 021074, connection C: 021075

Gold ETF Huaxia (518850), external connection A: 008701, connection C: 008702