The size of the gold ETF has shrunk, but its long-term trend remains unchanged despite short-term volatility.

Since late March, the gold market has ended its previous one-way upward trend and entered a period of significant volatility. The fund flows of related gold ETFs have also weakened, with the scale of several gold ETFs shrinking by over 3 billion yuan in the past week. Why is the gold market facing significant volatility in the short term? Has the long-term logic changed? According to institutional experts, factors such as global monetary policy expectations, changes in real interest rates, profit-taking by bulls, and increased price sensitivity are causing market sentiment to switch rapidly between long and short signals. However, the long-term logic for gold allocation remains solid, and short-term corrections may present opportunities to adjust strategic allocations.