Inflation Expectations Heat Up, Gold Extends Six-Day Slump; E Fund Gold Miners Select Index ETF (02824.HK) Plunges Over 6% in Early Trade

NewTimeSpace News:March 19 — International gold prices extended weakness during Asian trading hours, with spot gold hovering around $4,830 per ounce, marking six consecutive sessions of decline and the longest losing streak since late 2024.E Fund Gold Miners Select Index ETF(02824.HK) plunged over 6% in early trading.

Following a 0.3% drop in the previous session, spot gold registered a maximum intraday pullback of 1%. Despite modest U.S. core inflation readings at the start of the year, concerns over future inflation have diminished the likelihood of Federal Reserve rate cuts. Meanwhile, the European Union has warned that inflation in the bloc may exceed 3% this year.

According to Hong Kong Exchanges and Clearing (HKEX) data,E Fund Gold Miners Select Index ETF(02824.HK) tracks theSolactive Global Gold Miners Select Index, covering gold mining companies listed on the Hong Kong Stock Exchange that qualify for Stock Connect trading. The fund currently holds positions in leading Chinese mining names includingZijin Mining, Zhaojin Mining, Shandong Gold, Chifeng Gold, and Lingbao Gold.

Anchored in global gold mining equity assets, the fund combines commodity exposure with earnings leverage inherent in mining stocks. Against the backdrop of gold prices breaching historical highs, the high-beta characteristics of these "miners' equities" warrant particular attention.

From a policy perspective, the Federal Reserve maintained interest rates unchanged at the3.5%-3.75%range in its latest meeting, marking the second consecutive hold. While maintaining a seemingly neutral stance on the surface, Chair Jerome Powell explicitly noted that rising energy prices could push up overall inflation levels in the near term. This remark significantly altered market expectations regarding future monetary policy trajectory, reinstating the"higher-for-longer"interest rate narrative as the dominant theme.

NewTimeSpace Disclaimer: All content herein is the original work of NewTimeSpace. Any reproduction, reprinting, or use of this content in any other manner must clearly indicate the source as "NewTimeSpace". NewTimeSpace and its authorized third-party information providers strive to ensure the accuracy and reliability of the data, but do not guarantee the absolute correctness thereof. This content is for reference only and does not constitute any investment advice. All transaction risks shall be borne by the user.