黄金ETF一览

15th January, 2022

背景:黄金ETF持仓持续上涨,金价创周新高

 
截至8月18日早上6点,全球最大黄金ETF–SPDR Gold Trust持仓报1252.38吨,较上日增加4.09吨。表明投资者目前对黄金走势持乐观态度。

价格方面,国际现货黄金周二(8月18日)黄金T+D收盘上涨2.70%至429.67元/克创一周新高。

 

对于目前金价持续走高的原因,我们总结市场上分析师的主要观点包括以下两点:

  1. 美元的贬值成为利多黄金的最重要因素,同时美国大选所带来的不确定性也加剧了美元的颓势。
  2. 全球疫情不确定性继续发酵,德国单日新发患者数量创4月份以来新高,而疫苗研发的进程却仍然迷雾重重,因此避险黄金的需求在此推动下仍然走强。

 

本期文章将为大家介绍黄金ETF以及相关投资标的。

 

黄金ETF介绍:运行机制,优点以及种类

黄金ETF(Exchange Traded Fund),是指以实物黄金或者黄金期货作为投资标的,紧密跟踪黄金价格或相关期货指数表现,在证券交易所上市的开放式基金。

 

运行机制:

以实物黄金ETF的运行原理为例:由大型黄金生产商向基金公司寄售实物黄金,随后由基金公司以此实物黄金为依托,在交易所内公开发行基金份额,销售给各类投资者,商业银行分别担任基金托管行和实物保管行,投资者在基金存续期间内可以自由赎回。

 

黄金ETF的优点;
 
1. 交易便捷且单位投资较少

黄金ETF在证券交易所上市,投资者可像买卖股票一样方便地交易黄金ETF。
由于黄金价格较高,黄金ETF一般以1克作为一份基金单位,每份基金单位的净资产价格就是1克现货黄金价格减去应计的管理费用。其在证券市场的交易价格或二级市场价格以每股净资产价格为基准。

2. 交易费用较低

交易费用低廉是黄金ETF的一大优势。投资者购买黄金ETF可免去黄金的保管费、储藏费和保险费等费用,只需交纳通常约为0.3%至0.4%的管理费用,相较于其他黄金投资渠道平均2%至3%的费用,优势十分突出。

 

黄金ETF种类:

按照黄金ETF的投资标的,跟踪指数以及杠杆的不同,目前市场上的黄金ETF主要有黄金实物ETF,黄金期货ETF以及相关的反向及杠杆产品

另外需要提醒广大投资者的是,杠杆和反向ETF更复杂,风险更大。主要是为满足有明确的市场观点以及资深交易者短期交易需求而设计的,并不适合长期持有。若您想要了解更对关于杠杆以及反向ETF的相关知识,请参看我们之前的文章《杠杆以及反向ETF 101》:https://www.poems.com.sg/market-journal/leveraged-and-inverse-etfs-101/

 

以下是在香港,美国上市的黄金ETF产品 (正向):


来源:新浪财经
 

以下是在香港,美国上市的黄金ETF的反向及杠杆产品:


来源:新浪财经
 

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