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On October 9th, the three major A-share indices collectively closed higher. The precious metals sector surged, with multiple gold stock-related ETFs rising significantly. Two ETFs hit the daily limit-up, and multiple non-ferrous metals-related ETFs gained over 8%.

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On October 9th, the total ETF turnover reached 581.119 billion yuan, an increase of nearly 30 billion yuan compared to September 30th. Four ETFs saw their turnover exceed 20 billion yuan.

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In the previous trading session, among equity ETFs, A500-related ETFs became the main force attracting capital inflows. Battery and gold-related ETFs also saw significant net capital inflows.

Gold Stock and Non-ferrous Metals Related ETFs Surge

During the National Day and Mid-Autumn Festival holiday, international gold prices repeatedly hit new highs. Catalyzed by positive factors, gold stock-related ETFs led the market gains today. Gold Stock ETF (159321) and Gold Stock ETF Fund (159315) hit the daily limit-up. Six of the top ten gainers among ETFs were gold stock-related ETFs.

Many gold stock-related ETFs have already doubled their gains since the beginning of this year. Among them, Gold Stock ETF (159562) has risen by 103.43% year-to-date. Its scale has grown significantly this year, with the latest scale being 24.09 billion yuan, compared to 3.22 billion yuan at the end of last year.

Non-ferrous metal varieties performed actively. Among the top ten gainers, three were non-ferrous metals-related ETFs, all with gains exceeding 8%.

A recently published view from UBS Wealth Management's Chief Investment Office (CIO) indicates that US real interest rates are expected to continue declining, providing structural support for gold. China Securities Co., Ltd. (601066) stated that from the perspectives of optimizing the international reserve structure, promoting the internationalization of the Renminbi, and responding to changes in the international environment, the future direction remains for the central bank to increase its gold holdings. The financial order dominated by a single currency is giving way to a new, diversified, decentralized balance anchored by physical credit. They are optimistic about the gold trend in the medium to long term.

ETF Turnover Exceeds 580 Billion Yuan

On October 9th, as of the market close, the total ETF turnover was 581.119 billion yuan, an increase of nearly 30 billion yuan compared to September 30th.

Specifically, on October 9th, four ETFs saw turnover exceed 20 billion yuan. Huabao Tianyi ETF had the highest turnover among all ETFs at 24.587 billion yuan.

Hong Kong Securities ETF and Hang Seng Technology-related ETFs were quite active in trading. The turnover for the Hong Kong Securities ETF on October 9th was 22.322 billion yuan.

A500-Related ETFs Become Main Force Attracting Capital

Recently, broad-based ETFs have become the main force attracting capital. Additionally, sectors like precious metals and batteries showed strong performance, and their related ETFs also continued to "attract money."

Among equity ETFs, A500-related ETFs recently received significant net capital inflows. On September 30th, both A500ETF Nanfang and CSI A500ETF Fuguo saw net capital inflows exceeding 1 billion yuan each. Among sector and thematic ETFs, battery-related ETFs received considerable net capital inflows. Battery ETF (159755) attracted nearly 1 billion yuan, and Battery 50 ETF (159796) attracted over 600 million yuan.

Furthermore, the Gold ETF Fund (159937) received net capital inflows of over 600 million yuan on September 30th.

ETF Analysis

Gold Market Fundamentals Remain Relatively Solid

Regarding the gold stock-related ETFs that surged significantly today, Yao Xi, Fund Manager at GF Fund, stated that the shift in the Federal Reserve's policy is the most direct driving factor for the short-term rise in gold prices. The US initiated its first interest rate cut of the year in September, and the dot plot suggests a cumulative rate cut of 75 basis points for the year. Additionally, continued gold purchases by global central banks provide long-term support for gold prices. Meanwhile, the eruption of geopolitical risks in multiple locations has boosted safe-haven demand.

Yao Xi believes that gold is evolving from a traditional safe-haven tool into a core vehicle for the rebalancing of the global reserve structure, and its pricing logic may have already changed. Driven by multiple factors including expectations of Fed rate cuts, the weakening credibility of the US dollar, and sustained gold purchase demand from global central banks, the fundamentals of the gold market remain relatively solid. Many global investment banks maintain an optimistic outlook on gold prices.