Yongying Fund Liu Tingyu: Multiple factors support the long-term value of gold assets

Since the beginning of this year, gold-related assets have performed remarkably well, with gold stocks and gold-themed ETFs remaining highly popular. However, the recent high-level adjustments in gold have attracted market attention. In an interview with the Shanghai Securities Journal, Liu Tingyu, the fund manager of Yongying CSI Hong Kong-Shenzhen Gold Industry Stock ETF, stated that the implied volatility of gold options has reached historically high levels, indicating a high degree of crowding in gold assets. Investors should pay attention to risks and rational investment in the short term. The recent pullback is mainly influenced by a cooling of short-term risk aversion and technical selling, which may bring prices back to a rational and reasonable range; however, in the long term, gold and gold stocks may still have upward potential