Value Gold ETF (03081.HK) Falls 1.98% as Hotter-Than-Expected U.S. CPI Weighs on Gold Prices

NewTimeSpace News: As of 11:13 on November 12, Value Gold ETF (03081.HK) stood at HKD 18.770, down 1.98%. The ETF opened at HKD 18.940, with the latest net asset value (NAV) at HKD 19.095, a premium of 0.29%, a 52-week high of HKD 26.340, a 52-week low of HKD 18.370, a turnover of approximately HKD 7.5838 million, and assets under management of approximately HKD 4.228 billion.

On the news front, U.S. October CPI rose 0.4% month-on-month and core CPI gained 0.3%, both above market expectations, with the market now fully pricing at least a 25bp Fed rate hike in December. The dollar index is fluctuating near a year-to-date high around 103, and the 10-year Treasury yield is again approaching 5%, significantly raising the opportunity cost of holding non-yielding gold, with international gold prices losing the USD 4,100/oz mark. Geopolitically, risk premiums retreated following signs of U.S.-Iran peace talks, further eroding short-term safe-haven bids for gold. However, the medium- to long-term demand structure has not reversed: World Gold Council data shows global central banks net added 321 tonnes of gold in Q3, up 42% year-on-year, while China's central bank raised its gold reserves to 78.30 million ounces by end-October, marking 24 consecutive months of purchases and the largest monthly increase since resuming buying in November 2024. The tug-of-war between short-term hawkish expectations and medium-term central bank demand forms the core framework for current gold price volatility.

Value Gold ETF (03081.HK) closely tracks the London Gold Fixing Price. The manager is Sensible Asset Management Hong Kong Limited. The ETF serves as a concentrated tool to directly track international gold prices and observe the interplay between short-term rate shocks and medium-term structural support.