E Fund Gold Miner ETF (02824.HK) Up 3.68% as Spot Gold Reclaims US$4,100

NewTimeSpace News: As of 11:23 on November 9, E Fund Gold Miner ETF (02824.HK) rose 3.68% to a latest price of HK$9.850. The ETF has so far traded 30,600 units today, with turnover of HK$302,583 and an average price of HK$9.888; its turnover rate is 0.094%. It has gained 3.68% week to date. The net asset value per unit is HK$9.7783, and assets under management stand at HK$317 million. (Note: NAV and AUM are as of November 6; the week-to-date change is based on the previous close of HK$9.500 on November 6, so it matches the one-day gain.)

Spot gold reclaimed the US$4,100 level on November 9. London spot gold traded at US$4,131.89 an ounce around 10:00, up US$70.44 or 1.74%, while New York gold futures stood near US$4,140; domestic gold T+D rose 1.61% to RMB887.08 a gram. On the news front, People's Bank of China data published on November 7 showed gold reserves of 78.30 million ounces at the end of October, up 830,000 ounces from a month earlier—a 24th consecutive monthly increase, with the monthly addition the largest since the central bank resumed purchases in November 2024. The World Gold Council had reported that global central banks and official institutions added a net 321 tonnes in the third quarter, up 42% year on year and the largest quarterly increase since the fourth quarter of 2024. Hong Kong gold miners rose, with Zijin Gold International up 2.34%, Chifeng Gold 1.23%, Zhaojin Mining 1.15% and Zijin Mining 0.21% at 11:07.

E Fund Gold Miner ETF (02824.HK) seeks to closely track the Solactive Global Gold Miner Select Index, using a full replication or representative sampling strategy. The index is a net total return, free-float market capitalisation weighted index whose constituents are gold mining securities listed in Hong Kong, the United States, Australia and Canada, with Hong Kong names required to be Stock Connect eligible; it currently holds 30 stocks. The product listed on January 30, 2026, with a management fee of 0.9% per year.

Huaxi Securities believes the core of this gold bull market remains the repricing of dollar credit, constraints on US fiscal sustainability, global central bank reserve diversification and geopolitical risk in combination. US Treasury data show the fiscal 2026 federal deficit at US$1.992 trillion, up about 12% year on year, with net interest costs of about US$1.05 trillion, keeping debt rollover and interest burdens on the rise. It notes that the midterms may raise the bar for new tax cuts and expansionary fiscal policy, but statutory welfare and interest spending are rigid, so the deficit and debt expansion trend is unlikely to reverse fundamentally, with central bank purchases and investment demand continuing to provide support.