Gold prices face short-term pressure but do not alter the long-term upward trend; Bosera Gold ETF opens up more than 1.5%

As of April 3, 2026, 09:31, the gold ETF Boshi (159937) rose by 1.59%, and the latest price was 9.87 yuan. Looking at a longer time frame, as of April 2, 2026, the gold ETF Boshi has accumulated a total gain of 3.02% over the past week.

In terms of liquidity, the gold ETF Boshi had an intraday turnover rate of 0.04%, and trading volume of 20.9182 million yuan. Looking at a longer time frame, as of April 2, the gold ETF Boshi had an average daily trading volume of 2.149 billion yuan over the past week.

On the news front, international precious metals futures generally closed lower. COMEX gold futures fell 2.29% to 4702.70 U.S. dollars per ounce, and COMEX silver futures fell 3.82% to 73.17 U.S. dollars per ounce. Geopolitical conflicts have not cooled down as expected. The risk-hedging logic has changed, and the market’s rate-cut expectations have rapidly cooled, boosting the U.S. dollar and U.S. Treasury yields. This increases the opportunity cost of holding precious metals and triggers selling.

In the long run, factors such as the global central bank trend of gold purchases and geopolitical uncertainties continue to provide structural support for gold.

Everbright Securities pointed out that, looking ahead, after the escalation of geopolitical conflicts is implemented, there may be a long-term allocation opportunity for the metals sector. The metal categories that look promising at present include: gold and silver in the backdrop of big-country games. For gold, in the short term it is mainly constrained by the liquidity suppression from geopolitical conflicts and the increased possibility of Federal Reserve rate hikes brought about by further upside expectations for oil prices. After the downside of a further escalation of geopolitical conflicts is realized, it may bring a buying opportunity for gold. Over the long cycle, the weakening of U.S. dollar credit and the unchanged logic of central banks continuing to purchase gold remain, so we continue to be optimistic about gold prices rising.

Regarding capital inflows, within the past 5 trading days, the gold ETF Boshi had net inflows on 4 days, with total “capital gathering” of 361 million yuan, and average daily net inflows reaching 72.17 million yuan.

Gold ETF Boshi (159937), off-market connection ( Boshi Gold ETF Connection A: 002610; Boshi Gold ETF Connection C: 002611; Boshi Gold ETF Connection E: 021499), related index funds ( Boshi Gold ETF off-market Class D: 000929; Boshi Gold ETF off-market Class I: 000930).

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