CSOP Gold 2x(07299.HK) +2.45%, Fed rate decision due early Thursday

NewTimeSpace News:As of 11:14 HKT on October 28, 2026, CSOP Gold Futures Daily (2x)(07299.HK) rose 2.45% intraday to HK$20.060 on turnover of HK$5.53 million and a turnover rate of 0.39%; the quote page showed spot gold at US$4,048.13, down 0.31%.

NewTimeSpace understands that CSOP Gold Futures Daily (2x)(07299.HK), managed by CSOP Asset Management Limited, is a leveraged product that tracks the Solactive Gold 1-Day Rolling Futures Index at 2x daily leverage. As of 11:14 HKT on October 28, the ETF had assets of HK$1.43 billion, a net asset value of HK$20.203 per unit, a board lot of 100 shares and a 52-week price range of HK$19.420 to HK$43.400.

The market widely expects the Fed to keep the federal funds target range at 3.75% to 4.00% at this meeting.

Peter Grant, vice president and senior metals strategist at Zaner Metals, said softer oil prices could offer some support to gold as they ease inflation concerns and somewhat temper the Fed's hawkish stance.