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Spot gold rose above $2,510/ounce, setting a new record high. Pay attention to the gold fund ETF (518800)

2024-08-20

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On the news front, spot gold rose above $2,510 an ounce, setting a new record high. Pay attention to the gold fund ETF (518,800).

Relevant institutions said that according to CME Fedwatch, the market expects a 25BP rate cut in September with a probability of 75.0%, which is higher than last week, and the prospects for rate cuts remain bright. Global geopolitical turmoil is frequent, and the market demand for gold as a safe asset continues to increase. Under the trend of global de-dollarization, gold is expected to become a new round of pricing anchor. There may be certain volatility risks in the short term, but gold fund ETFs still have layout value in the medium and long term.

Investors who do not have a stock account can seize gold investment opportunities through the linked fund of the gold fund ETF (004253).

Note: Market views are for reference only and do not constitute any investment advice or commitment. The main investment target of gold fund ETF is gold spot contracts. The expected risk-return level is similar to that of gold assets, which is different from stock funds, mixed funds, bond funds and money market funds. If you need to purchase relevant fund products, please read the fund legal documents in detail, pay attention to the relevant provisions of investor suitability management, do risk assessment in advance, and purchase fund products with risk levels that match your own risk tolerance. Funds are risky and investment should be cautious.

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