Core Viewpoint - Recent US non-farm employment data for July fell significantly below expectations, reinforcing the Federal Reserve's interest rate cut outlook, which is expected to support gold prices in the short term [1] Group 1: Market Performance - As of August 4, 2025, the CSI Hong Kong-Shenzhen Gold Industry Stock Index (931238) rose by 3.46%, with notable increases in individual stocks such as Chifeng Jilong Gold Mining (8.98%) and Shandong Gold (8.15%) [3] - The Gold Stock ETF (159322) increased by 3.00%, with a latest price of 1.2 yuan, and has seen a cumulative increase of 6.76% over the past three months, ranking it in the top 1/6 among comparable funds [3][4] - The Gold Stock ETF's trading volume was active, with a turnover of 11.7% and a transaction value of 4.2544 million yuan [3] Group 2: Fund Performance - The Gold Stock ETF has achieved a net value increase of 17.74% over the past year, ranking in the top 2 among comparable funds [4] - The fund's highest single-month return since inception was 16.59%, with a maximum consecutive monthly gain of 31.09% [4] - The fund's Sharpe ratio for the past year is 1.10, placing it in the top 2/6 among comparable funds, indicating higher returns for the same level of risk [4] Group 3: Index Composition - As of July 31, 2025, the top ten weighted stocks in the CSI Hong Kong-Shenzhen Gold Industry Stock Index accounted for 66.02% of the index, with Zijin Mining (10.84%) and Shandong Gold (10.02%) being the largest contributors [5][7] - The index includes 50 large-cap companies involved in gold mining, refining, and sales, reflecting the overall performance of the gold industry in the mainland and Hong Kong markets [5]