Hang Seng Gold ETF (03170.HK) Up 0.97% Intraday as Spot Gold Sits 30.37% Below Its Peak

NewTimeSpace News: As of 10:33 on November 3, Hang Seng Gold ETF (03170.HK) rose 0.97% to a latest price of HK$12.460. The ETF has so far traded 154,500 units today, with turnover of HK$1.9247 million and an average price of HK$12.461; its turnover rate is 0.106%. It has fallen 0.56% week to date. The net asset value per unit is HK$12.2854, and assets under management stand at HK$1.791 billion (about US$228 million). (Note: NAV and AUM are as of November 2; the week-to-date change is based on the October 30 close of HK$12.530.)

On November 3, Securities Daily reported that spot London gold touched an intraday low of US$3,869.96 per ounce on October 31, a one-year low. As of 17:00 on November 2, spot gold stood at US$3,898.31 per ounce, down 30.37% from its record high of US$5,598.75 on January 29. Holdings of SPDR Gold Trust, the world's largest gold ETF, fell about 14.043 tonnes, or 1.33%, between September 30 and October 30, worth about US$10.693 billion.

Hang Seng Gold ETF (03170.HK) closely tracks the LBMA Gold Price AM published by the London Bullion Market Association. It is the first ETF in Hong Kong that allows redemption in physical gold at a bank. Backed by physical bullion, with trading, storage and physical redemption all conducted in Hong Kong, the fund can be bought and sold through ordinary Hong Kong stock trading channels in board lots of 50 units. Managed by Hang Seng Investment Management Limited, it listed on the Hong Kong Stock Exchange on January 29, 2026, with a management fee of 0.25% per year.

Everbright Futures believes the rapid slide triggered a batch of stop-losses—a concentrated clearing of stop-loss positions rather than a fundamental turn—and that a rebound is possible in November, with real interest rates and the dollar being the key anchors to watch.