Previously, we also expected that, in the absence of the stimulus of landmark events, the rise of gold price may be more stable, although the certainty is high, but the rate may be relatively slow. Last week, there was an emergency, international relations tend to be tense, and the current epidemic situation is still tense, the uncertainty and even pessimistic expectation of the global economy is more obvious, which is the source of gold certainty. On July 27, Wang Xiang, manager of Boshi gold ETF fund, told the reporter of 21st century economic report.
Gold ETF turnover soared
At the same time of gold price soaring, gold ETF also set a recent turnover high.
On July 27, the turnover of Huaan gold ETF and e-fonda gold ETF ranked among the top ten ETFs in the whole market. Among them, the turnover of Huaan gold ETF reached 3.627 billion yuan, second only to Huabao Tianyi ETF and Yinhua Rili ETF, exceeding the turnover of securities ETF, gem 50ETF and Hushen 300etf.
Compared with the turnover data on July 24, the turnover of Huaan gold ETF on July 27 increased by more than 1 billion, or more than 55%.
In fact, gold has also been one of the performing assets this year. The returns of the four gold ETFs established before this year have exceeded 22% as of July 26 this year. Among them, e fund gold ETF has the highest return of 22.24%.
The returns of the three gold ETFs newly established in April this year have all exceeded 7% as of July 26. Among them, ICBC gold ETF established on April 24 this year has the highest return of 8.07%.
After the gold price broke through the record high of US $1910 per ounce this time, the future market will be fully open up, and it will not be long before the gold price breaks through the integer level of US $2000 per ounce in the future. In fact, the investment logic for gold is very clear, including the devaluation of paper money brought about by the global central banks water release, and the highlighted value of gold as a safe haven after the global economic recession. From the investment point of view, gold ETF should be a good choice, with good liquidity, in addition, it can avoid individual stock risk Yang Delong, chief economist of Qianhai open source fund, said in an interview.
In the short term, the pricing logic of gold mainly relies on inflation expectations. At the end of the month, we need to focus on the game of the US Congress on the fiscal relief plan. If the fiscal relief plan fails to be implemented before the recess of the US Congress, inflation expectations may be harmed, and there is a possibility of gold price correction. Cathay Pacific Fund pointed out in an interview.
Although the market is booming, some institutions have also raised the risk of fluctuations in the current allocation.
The international gold price has now challenged the historical peak. However, historically, the short-term geopolitical events have limited sustainability in boosting the gold price, which generally comes from the concentrated catharsis of market sentiment and hedging demands. Chasing high investors also need to do a good job in short-term volatility aggravating risk considerations. Wang Xiang said.
As a matter of fact, since this year, gold ETF has been in hot demand for funds. At the same time, with the support of Shanghai Gold ETF, the market has further expanded.
Data show that by the end of June this year, the largest ETF scale of Huaan gold has exceeded 10 billion yuan, reaching 10.906 billion yuan, an increase of 56% compared with the data of 6.995 billion yuan at the end of last year. In addition, the scale of Boshi gold ETF and e fund gold ETF at the end of June this year also increased by more than 1 billion compared with that at the end of last year.
Source: Ren Hui, editor in charge of economic report in the 21st century_ NBJ9607