Spot Gold Returns to $5,000/Ounce, E Fund Gold Miners Select Index ETF (02824.HK) Gains Nearly 4% in Morning Trading

NewTimeSpace News: On February 4, 2026, spot gold continued its upward momentum. As of 09:42, spot gold was quoted at $5,031.86 per ounce, with E Fund Gold Miners Select Index ETF  (02824.HK) gaining nearly 4% in morning trading.

HKEX data shows that E Fund Gold Miners Select Index ETF  (02824.HK) tracks the Solactive Global Gold Miners Select Index, covering gold mining companies listed on the Hong Kong Stock Exchange that are eligible for Stock Connect, currently including Chinese leading players such as Zijin Mining, Zhaojin Mining, Shandong Gold, Chifeng Gold, and Lingbao Gold.

The fund is anchored to global gold mining equity assets, combining commodity attributes with stock earnings leverage. Against the backdrop of gold prices breaking historical extremes, the high-elasticity characteristic of its "miner stocks" is particularly noteworthy.

On the news front, the world's largest gold ETF--SPDR Gold Trust reduced its holdings by 3.72 tons from the previous day, with current holdings at 1,083.38 tons.

Ping An Securities stated that against the backdrop of accelerating volatility in gold, gold prices may continue to show wide fluctuations in the short term. However, in the long term, the US debt problem remains unresolved and the weakening of dollar credit shows no turning point, making it difficult to say that gold's long-term trend has peaked. After short-term stabilization, the gold price center may continue to rise. Overseas macro uncertainties persist, and the safe-haven attribute of gold remains in an amplified stage in the medium term. In the long run, after Trump took office, the main logic of weakening dollar credit has become increasingly clear, and the monetary attribute of gold has become more prominent. The firm remains bullish on the medium-to-long-term trend of gold.

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