2025.05. 01 本文字数：1735，阅读时长大约3分钟 作者 | 第一财经 齐琦 今年一季度，国内黄金ETF市场交投活跃，业绩表现亮眼。 一季度，20只黄金ETF平均净值增长率约20%，14只跟踪国内现货黄金价格的黄金ETF近一年收益率 均突破40%。 资金涌入也推动黄金ETF规模大增，据Wind统计数据，一季度20只黄金ETF规模合计增长324.3亿元 至1050亿元，截至4月30日，20只黄金ETF规模总计1640.54亿元，年内增长914亿元。 | 序号 | 证券代码 ▲ | レ 证券简称 | 单季度,其余份额净值增长率。 | | 复权单位净值增长率 | ▼ | | --- | --- | --- | --- | --- | --- | --- | | | | | [报告期] 2025第一季度 | | [起始交易日期] 截止日1年前 | | | | | | [車位] ％11 | | [截止交易日期] 最新 | | | | | | | [单位] % | | | | 1 | 159562.OF | 华夏中证沪深港黄金产业股票ETF | | 23.9300 | | 12.0977 | | 2 | 51 ...

Core Insights - The first quarter of 2025 saw a significant surge in global gold demand, driven by increased investment in gold ETFs as a response to economic uncertainties and geopolitical tensions [2][5][6]. Group 1: Gold ETF Performance - In Q1 2025, 20 gold ETFs experienced an average net asset value growth rate of approximately 20%, with 14 ETFs tracking domestic spot gold prices achieving over 40% returns in the past year [2][3]. - The total scale of these 20 gold ETFs increased by 32.43 billion yuan to reach 105 billion yuan, with a total scale of 164.05 billion yuan as of April 30, 2025, marking a year-to-date increase of 91.4 billion yuan [2][3]. - The top-performing gold stock ETFs included the Huaxia CSI Hong Kong Gold Industry ETF, which had a net value growth rate of 23.93%, followed by other ETFs with growth rates exceeding 23% [4]. Group 2: Global Gold Demand Trends - Global gold ETF inflows reached 226 tons in Q1 2025, contributing to a total gold investment demand of 552 tons, a year-on-year increase of 170% and the highest quarterly level since Q1 2022 [6][9]. - China's gold ETF market, despite only accounting for 4% of the global market share, contributed to 10% of the global total increase in holdings during Q1 2025, with a monthly demand surge of 68 tons by April 25 [9][10]. - Central banks globally continued to increase their gold reserves, with a net purchase of 244 tons in Q1 2025, although this was a 21% decrease compared to the previous year [9][10]. Group 3: Market Dynamics and Future Outlook - The rise in gold ETF investments is seen as a concentrated release of safe-haven demand amid a backdrop of global economic uncertainty, trade disputes, and fluctuating U.S. policies [2][5]. - Analysts suggest that while the long-term value of gold remains clear, the high premium risks associated with gold ETFs should not be overlooked, especially with potential short-term market volatility [5][10]. - The macroeconomic outlook remains unpredictable, and as geopolitical tensions persist, both institutional and individual investors, as well as central banks, are expected to further increase their demand for gold as a hedge against risks [10].

作 者丨易妍君，彭卓 编 辑丨张星，梁明，江佩佩 4月2 2日市场震荡分化，三大指数涨跌不一， 沪指重回3 3 0 0点上方 。截至早盘收盘，沪指涨0 . 3 1%，深成指跌0 . 4 1%，创业板指跌0 . 9 8%。盘 面上热点较为杂乱，个股跌多涨少， 全市场超3 1 0 0只个股下跌 。 | | | 3 0 元 / 克 关 口，续 创 历 史 新 高 。 高盛近期更新了预测，预计到2 0 2 5年年底，现货黄金价格将达到3 7 0 0美元/盎司，而到2 0 2 6年年中将攀升至4 0 0 0美元/盎司。 | | | FRENCE OF | | | | --- | --- | --- | --- | --- | | 名称 | 现价 | 涨跌 | 涨跌幅 ▼ | 年初至今 | | SHFE更全 | 833.48 | 35.02 | 4.39% | 34.26% | | SGE#31+D | 831.02 | 31.42 | 3.93% | 35.16% | | SGE黄金9999 | 831.80 | 27.69 | 3.44% | 35.30% | | 上海金 | 821.75 | 17.91 | 2.2 ...

作 者丨易妍君 编 辑丨张星 图 源丨2 1世纪经济报道 美国滥施关税、美元走弱背景下，COMEX黄金的价格屡创新高。 继4月1 7日触及3 3 7 1 . 9美元/盎司后，4月2 1日，COMEX黄金的价格进一步上攻，截至记者发 稿前，报3 4 11美元/盎司，刷新历史高点。 伴随国际金价走高，资金不断涌入黄金主题ETF。据Wi n d统计，2 0 2 5年1月1日—4月1 8日， 1 4只黄金主题ETF（商品型）合计"吸金"规模超过5 1 0亿元。 黄金主题ETF的规模也创下历史新高。截至4月1 8日，1 4只黄金主题ETF（商品型）的资产规 模合计达到1 4 5 1 . 0 5亿元，较2 0 2 4年末的7 0 4 . 4 2亿元增长了一倍有余。 此外，在二级市场上，黄金股ETF、黄金主题基金（LOF）亦受到资金热捧。4月2 1日，国泰 黄金股票ETF、华夏黄金股ETF涨停，平安黄金股票ETF基金涨逾9%。 需要注意的是，黄金投资热也暗藏一定的风险。 4月2 1日，易方达基金公告称，近期，易方达黄金主题基金（LOF）二级市场交易价格明显高 于 基 金 份 额 净 值 ， 特 此 提 示 投 资 者 关 ...