Gold stock ETF Ping An rises over 2.4%, institutions optimistic about long-term gold bull market

Does AI ask whether the rise in gold stocks reflects economic stagflation risk?

As of 10:59 on April 1, 2026, the CSI Shanghai-Shenzhen-Hong Kong Gold Industry Stock Index (931238) surged 2.63%, with constituent stocks Zijin Gold International up 6.49%, Zijin Mining up 5.01%, China Gold International up 4.63%, and other stocks like Wanguo Gold Group, Jiangxi Copper also rising. The Ping An Gold Stocks ETF (159322) increased by 2.43%, with the latest price at 1.85 yuan.

Spot gold has regained its upward momentum, with news indicating that the Federal Reserve’s policy stance has shown a marginal dovish shift, easing market expectations of tightening.

Dongzheng Futures analysis points out that rising energy prices are directly boosting U.S. inflation pressure, while the labor market remains unstable and consumption momentum weakens. If oil prices stay high, the economy may shift from stagflation to recession; the Federal Reserve faces a dilemma between employment and inflation targets, raising the hurdle for rate hikes, and policy adjustments may lag behind inflation’s upward trend. Coupled with U.S. fiscal expansion and increased military spending, sovereign debt pressure intensifies. Gold, as a core asset to hedge against weakening fiat currency credit and geopolitical splits, maintains its long-term bull market logic.

The Ping An Gold Stocks ETF closely tracks the CSI Shanghai-Shenzhen-Hong Kong Gold Industry Stock Index. This index selects 50 large-cap listed companies involved in gold mining, smelting, and sales from the mainland and Hong Kong markets as its sample, reflecting the overall performance of gold industry listed companies in these markets.

Data shows that as of March 31, 2026, the top ten weights of the CSI Shanghai-Shenzhen-Hong Kong Gold Industry Stock Index (931238) are Zijin Mining, China National Gold, Shandong Gold, Chifeng Gold, Shanjin International, Zhaojin Mining, Hunan Gold, Zijin Gold International, Shandong Gold, and Zijin Mining, with the top ten stocks accounting for 63.63% of the total.

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