Gold undergoes a deep correction, with funds continuously flowing in. Over the past 18 days, the Ping An Gold Stock ETF has attracted 15.593 million yuan in "money inflow."

As of March 26, 2026, 10:35, the CSI Hong Kong-Shenzhen Gold Industry Stock Index (931238) fell by 1.97%. Among the constituent stocks, performance was mixed, with ST Cuihua leading the gains at 2.33%, Caibai Co., Ltd. up 0.94%, and Hangmin Co., Ltd. up 0.27%; Zijin Mining International led the declines at 4.28%, Shandong Gold down 4.26%, and Luk Fook Holdings down 4.21%. The Gold Stock ETF Ping An (159322) fell by 1.87%, with the latest quote at 1.74 yuan.

On the news front, U.S. gold stocks collectively rose, with Igal Mining, Kinross Gold, and Pan American Silver up over 4%, and Newman Mining, Barrick Mining, and AU rising over 3%. Spot gold returned to $4,500.

Recently, gold prices have undergone a significant pullback, with funds entering the market at lower levels; the Gold Stock ETF Ping An saw an intraday turnover of 2.78%, with a transaction volume of 6.3834 million yuan. Over a longer period, as of March 25, the average daily transaction for the Gold Stock ETF Ping An in the past month was 22.9072 million yuan.

Guojin Futures analysis suggests that in the short term, gold prices are still suppressed by insufficient expectations for a shift in U.S. Federal Reserve monetary policy and liquidity pressures, with profit-taking from earlier rapid gains continuing to emerge, indicating the possibility of further declines in gold prices; however, from a medium to long-term perspective, unresolved geopolitical conflicts and high uncertainty in global economic growth will gradually bring back gold’s safe-haven and anti-inflation properties, and once the liquidity environment improves, gold prices are expected to receive solid support.

The Gold Stock ETF Ping An closely tracks the CSI Hong Kong-Shenzhen Gold Industry Stock Index, which selects 50 securities from larger market capitalization companies involved in gold mining, smelting, and sales from the mainland and Hong Kong markets as index samples to reflect the overall performance of gold industry listed companies in these markets.

Data shows that as of February 27, 2026, the top ten weighted stocks in the CSI Hong Kong-Shenzhen Gold Industry Stock Index (931238) are Zijin Mining, China Gold International, Shandong Gold, Chifeng Jilong Gold Mining, Zhaojin Mining, Shanjin International, Hunan Gold, Zijin Mining International, Zijin Mining, and Shandong Gold, with the top ten weighted stocks accounting for a total of 61.77%.

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