China’s latest investment frenzy sparks wild swings in gold ETF

المملكة العربية السعودية أخبار أخبار

China’s latest investment frenzy sparks wild swings in gold ETF
المملكة العربية السعودية أحدث الأخبار,المملكة العربية السعودية عناوين

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An exchange-traded fund that owns gold companies has become the latest target of frenzied trading in China as investors pile into corners of the market seen as resilient to the country’s economic challenges.

The ETF fervor is a fresh example of yield-hungry Chinese investors flocking to pockets of market strength as deepening property woes, volatile stocks and falling deposit rates reduce their options. The enthusiasm about products tied to gold, which has staged a record-setting rally in recent weeks, also shows a desire to park money in a sector seen relatively immune to a struggling economy.

Shares of Chinese gold miners also have produced stellar gains this year. Zijin Mining Group Co. and Shandong Gold Mining Co. have both risen more than 50% from their respective lows earlier in the year. The two stocks have entered overbought territory based on technical indicators.

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