Xin Lang Cai Jing·2025-10-23 03:05Group 1: Gold Market Overview - Recent adjustment in gold prices following a significant increase in late August, with COMEX gold futures dropping over 6% from October 21 to 22 [1] - Short-term gold investment requires careful timing, but long-term investment value remains intact, supported by fundamental factors [1] - Despite a 5.3% drop in international gold prices on October 21, the long-term logic of gold as a safe-haven asset remains unchanged [1] Group 2: Company Performance - Zijin Mining reported a gold production of 23.8 tons in Q3 2025, a 7% increase quarter-on-quarter, driven by new acquisitions and projects [2] - The sales price of gold increased by 4% to 768 RMB per gram in Q3, significantly enhancing profits [2] - The company is expanding its gold and copper production capacity, laying a foundation for sustainable long-term growth [2] Group 3: ETF Performance - As of October 23, 2025, the CSI Hong Kong and Shanghai Gold Industry Stock Index fell by 2.35%, with mixed performance among constituent stocks [4] - The Gold Stock ETF Fund has seen a 32.20% increase in net value over the past six months, ranking first among comparable funds [5] - The ETF has a maximum drawdown of 9.92% over the past six months, with a management fee of 0.50% and a custody fee of 0.10% [6] Group 4: Index Composition - As of September 30, 2025, the top ten weighted stocks in the CSI Hong Kong and Shanghai Gold Industry Stock Index account for 68.2% of the index [7] - Major companies include Zijin Mining, Shandong Gold, and Zhongjin Gold among others [7]