市场避险情绪蔓延，金价短暂回调后再度走高，黄金ETF华夏（518850）止跌回稳

Core Viewpoint - The recent surge in gold prices has led to a significant increase in gold-related ETFs, driven by macroeconomic factors, geopolitical risks, and market liquidity, indicating a strong investment interest in gold as a core asset [1] Group 1: Market Performance - As of 9:40 AM on October 21, gold ETFs such as Huaxia (518850) rose by 2.33%, and gold stock ETFs (159562) increased by 2.03%, with notable gains in holdings like ChaoHua Jewelry, Zhaojin Mining, Zijin Mining, Sichuan Gold, and Shandong Gold [1] - The international gold price has recently reached record highs, contributing to the expansion of management scale for gold ETFs and a noticeable increase in investment enthusiasm [1] Group 2: Driving Factors - Multiple public fund institutions attribute the current rise in gold prices to a combination of geopolitical risks, the global credit system, and liquidity in the market, with central banks and institutional funds continuing to increase their holdings [1] - Industry experts suggest that while short-term fluctuations may occur, the long-term support factors for gold remain strong, reinforcing its importance and resilience as a core asset allocation [1] Group 3: Cost Efficiency - The management and custody fees for Huaxia Gold ETF (518850) and Gold Stock ETF (159562) are combined at a low rate of 0.2%, making it more cost-effective for investors to participate in the gold market [1]