机构：黄金上涨趋势不变，黄金ETF基金(159937)盘中上涨，成交额已破亿元

Core Viewpoint - The upward trend of gold remains unchanged, with the gold ETF fund (159937) showing significant trading activity and positive performance metrics [1][4]. Performance Summary - As of March 26, 2025, the gold ETF fund (159937) increased by 0.24%, reaching a price of 6.78 yuan, with a trading volume exceeding 1.02 billion yuan [1]. - Over the past week, the gold ETF fund has accumulated a rise of 0.60% [1]. - Since its inception, the fund has recorded a maximum monthly return of 10.62%, with the longest consecutive monthly gains lasting 6 months and a maximum increase of 16.53% [1]. - The fund has a historical performance ratio of 70 up months to 56 down months, with an average return of 3.14% during up months and an annual profit percentage of 80.00% [1]. - The probability of profit over a 3-year holding period is 100.00% [1]. Risk and Return Metrics - The Sharpe ratio for the gold ETF fund over the past year is 2.71, indicating strong risk-adjusted returns [2]. - The maximum drawdown for the fund this year is 2.68%, with a relative benchmark drawdown of 0.20% [3]. Fee Structure - The management fee for the gold ETF fund is 0.50%, while the custody fee is 0.10% [4]. Market Context - Recent U.S. housing sales data exceeded expectations, alleviating concerns about a recession, which has influenced the stability of the dollar index and impacted gold investment sentiment [4]. - The market is experiencing a temporary easing of tariff concerns, as indicated by Trump's flexible tariff plans, which may affect gold prices in the short term [4]. - Despite potential short-term fluctuations, the overall investment logic for gold remains positive, with expectations of continued upward movement [4].