The structural reasons for global central banks increasing gold holdings remain unchanged, and Huaxia Gold ETF closes up 0.92%.

Ask AI · What macro trends are reflected by the global central banks increasing their gold holdings?

April 3, 2026, by the close, the three major A-share indices closed lower, the Shanghai Gold Exchange SGE Gold 9999 rose by 0.67%, closing at 1034.42 yuan/gram, maintaining a narrow fluctuation after an early surge and pullback. The Gold ETF Huaxia(518850) increased by 0.92%, with the latest price at 9.92 yuan. The Gold Stock ETF Huaxia(159562) decreased by 0.37%, with the latest quote at 2.44 yuan. In terms of holdings, gains and losses were mixed: China International Gold led with a 1.06% increase, Shan Jin International rose by 0.74%, Chifeng Gold increased by 0.56%; Xiaocheng Technology led the decline with 4.13%, Mingpai Jewelry fell by 4.09%, and Shenzhen China A dropped by 3.67%.

In news, U.S. President Trump took a tough stance on the Iran war issue, which drove oil prices sharply higher on Thursday. Traders are preparing for a more prolonged conflict, which will exacerbate the already serious disruptions in global energy supply. As the conflict is expected to last at least until late April, the outlook for crude oil supply has become increasingly grim.

Geopolitical risks continue to escalate, fueling expectations of a restructuring of the global political and economic order. Shenwan Hongyuan Futures believes that, from a medium- to long-term perspective, the price center of precious metals will continue to rise. On one hand, the systemic increase in global geopolitical risks, combined with concerns over the sustainability of U.S. fiscal policy and frequent interventions by Trump in the independence of the Federal Reserve, accelerates the process of de-dollarization; on the other hand, the structural reasons for central banks worldwide increasing their gold reserves remain unchanged—since 2022, the pace of gold purchases has accelerated, reflecting a fundamental shift in macro order rather than short-term fluctuations. In January–February this year, global central banks still added about 25 tons of gold, with Poland’s central bank accelerating its purchases by 20 tons, and China’s central bank increasing holdings for 16 consecutive months, with gold accounting for 10% of official reserves. The long-term upward trend of gold remains intact.

It is noteworthy that the management and custody fee rate of Huaxia Gold ETF (518850) and Huaxia Gold Stock ETF (159562), totaling 0.2%, is among the lowest in similar products, helping investors participate in gold market trends at lower costs.

Related products:

Gold Stock ETF Huaxia(159562), OTC connection A: 021074, connection C: 021075

Gold ETF Huaxia(518850), OTC connection A: 008701, connection C: 008702