Gold prices skyrocket, China's gold stock ETF is "hyped up"
2024-04-02 06:31:32
On April 2nd, it was reported that the price of gold has continued to rise recently, and smaller gold related ETFs have become targets for capital speculation. On April 1st, the ETF of Huaxia gold stocks rose to the limit, resulting in a significant premium. On the morning of April 2nd, the ETF was suspended for one hour. After the resumption of trading, the ETF of China's gold stocks fluctuated violently, dropping more than 8% at one point. Afterwards, the on exchange price quickly rose, rising by more than 9%. The data shows that the current premium rate of the ETF is 19.68%, with a premium rate exceeding 20% during morning trading. Industry insiders say that gold has been hot lately, and with the ETF size of Huaxia Gold stocks only around 50 million yuan, a small amount of funds can cause drastic fluctuations in on exchange prices. ETFs have a well-established arbitrage mechanism, so investors should not be attracted by higher gains and participate in this kind of drum and flower game.
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