2 1 Shi Ji Jing Ji Bao Dao·2025-11-04 06:39Core Viewpoint - The recent decline in gold prices and the continuous drop in A-shares have led to a significant decrease in gold and precious metal-related ETFs, although there has been a net inflow of funds into gold stock ETFs despite the downturn [1] Group 1: ETF Performance - As of 14:10 on November 4, the performance of various ETFs was as follows: Gold ETF Huaxia (518850) fell by 0.89%, Non-ferrous Metals ETF (516650) dropped by 3.65%, and Gold Stock ETF (159562) decreased by 3.88% [1] - The holdings of the Gold Stock ETF, including companies like WanGuo Gold Group, saw declines exceeding 6%, while Zijin Mining, Chifeng Jilong Gold Mining, and Jiangxi Copper also experienced significant losses [1] Group 2: Fund Inflows - Despite the three-day decline in the Gold Stock ETF (159562), it recorded a net inflow of funds totaling 57.12 million yuan over the same period [1] Group 3: Market Outlook - Major Wall Street banks remain optimistic about the future of gold prices, with UBS stating that the current price drop is temporary and maintaining a year-end target of $4,200 per ounce [1] - UBS also indicated that if geopolitical or market risks escalate, gold prices could potentially rise to $4,700 per ounce within the year [1] - GF Securities noted that the decline in real interest rates continues to provide marginal support for gold prices, with expectations of a new round of interest rate cuts by the Federal Reserve and a halt to balance sheet reduction in December [1] - The continuation of monetary easing and rising inflation are expected to support gold prices, with ETF investments and central bank purchases being key drivers for sustained upward movement [1]