地缘冲突再起！避险需求推动黄金大涨，上海金ETF(159830)最新单日净流入1.54亿元，最新份额创成立以来新高

Core Viewpoint - The Shanghai Gold ETF (159830) has seen significant trading activity and inflows, driven by rising gold prices due to geopolitical tensions, with expectations for continued price increases in 2026 [1][2][5]. Trading Activity - As of December 31, 2025, the Shanghai Gold ETF (159830) had a turnover rate of 4.53% and a transaction volume of 110 million yuan [1]. - The latest share count for the Shanghai Gold ETF reached 267 million, marking a new high since its inception [1]. Fund Inflows - The Shanghai Gold ETF (159830) recorded a net inflow of 154 million yuan recently, with a total of 178 million yuan accumulated over the past eight trading days [2]. Product Highlights - The Shanghai Gold ETF (159830) closely tracks the Shanghai Gold (SHAU.SGE) and has a management fee of 0.25% and a custody fee of 0.05%, both lower than the average for similar products. The ETF also supports T+0 trading [3]. Market Context - Geopolitical conflicts have reignited, leading to increased demand for gold as a safe haven, with spot gold prices rising above 4,400 USD per ounce, peaking at 4,420 USD per ounce [5]. - Analysts from CITIC Securities predict that gold prices will benefit from a liquidity easing environment due to potential interest rate cuts by the Federal Reserve, with expectations for gold prices to reach new highs in 2026, although the growth rate may slow to 10%-15% [5].