[Gold ETF] Gold prices rebound to $4,300; a comprehensive analysis of gold ETFs listed in Hong Kong and the U.S.

Summary: As of early August 2026, spot gold briefly touched around $4,300 per ounce, with short-term momentum picking up. For Hong Kong stock investors, trading gold ETFs through a brokerage account is a more convenient way to allocate capital than holding physical gold. This article updates the comparison of mainstream Hong Kong and U.S. stocks, outlines recommended strategies for selecting gold ETFs, and provides a step-by-step guide on how to buy gold ETFs on Futu.

The foregoing content is compiled based on publicly available market information and fund product data, with data as of August 6, 2026. It does not constitute any form of investment advice; investment involves risk, and investors should proceed with caution.

Why should we still pay attention to gold today?

Gold has long been regarded as an "insurance asset" in financial markets: during stock market volatility, rising inflation expectations, or geopolitical uncertainty, its safe-haven characteristics and low correlation with equities and bonds often make it a diversification tool in portfolio allocation.

The latest trends in gold prices for 2026

• Early 2025–2026: Gold prices surged sharply, with Hong Kong-dollar‑denominated gold prices at one point reaching exceptionally high levels.

• First half of 2026: Gold prices are expected to experience a noticeable pullback and heightened volatility. According to data from the World Gold Council (WGC), central banks' pace of gold purchases slowed in the first half, and some quarters also saw net outflows from gold ETFs.

• Early August 2026: Driven by a weaker U.S. dollar, falling U.S. Treasury yields, and softer-than-expected employment data that cooled expectations of further rate hikes, spot gold briefly surged to around $4,300 per ounce, with the intraday gain widening significantly.

For investors, the key is not that "gold prices will inevitably keep rising," but rather that, when a portfolio requires exposure to hedging against risk and inflation, gold ETFs remain one of the most straightforward and transparent instruments—though investors must accept the real costs, such as price volatility, fees, and tracking error.

Further Reading:Introduction to Gold Investment

What is a gold ETF? How does it differ from buying physical gold or mining stocks?

Gold ETFs are exchange-traded funds that, in most cases, track the price of gold—or the LBMA gold fixing—by holding physical gold bars (or an equivalent arrangement), enabling investors to participate in gold price movements without having to store the bars themselves.

Compared with purchasing physical gold, gold ETFs typically offer the following advantages: lower entry barriers, higher liquidity, trading like stocks, and no need for self‑storage. However, they also come with drawbacks, such as management fees, the potential for discounts or premiums, and the inability to physically hold gold bars.

Investing in gold-mining stocks allows you to participate in the gold market without holding physical gold. These stocks represent publicly listed companies that focus on gold mining, processing, and sales. Gold-mining stocks are closely tied to gold-market dynamics, with their performance typically mirroring international gold prices.

Common types can be divided into two categories; choosing the wrong one can make a big difference:

Market > ETF > Thematic ETF > Gold ETF, and choose from the full range of gold ETFs!" style="width:692px;height:692px;" loading="lazy" data-description="null">

How should you choose a gold ETF?

There is no one-size-fits-all answer when choosing a gold ETF; first, align three key factors: the trading venue (Hong Kong or U.S.), the investment horizon, and your trade-offs between fees and liquidity.

Comparison of Popular Gold ETFs

Comparison of Gold ETFs and U.S. Stocks

When searching for "gold ETFs in U.S. stocks," investors most often land on these three gold‑tracking securities with the highest trading volumes:

$SPDR Gold ETF(GLD.US)$(SPDR Gold Shares)

• One of the world's most representative gold ETFs, consistently ranking among the top in terms of assets under management and average daily trading volume.

• The fee is approximately 0.40%, which may not be the most cost-effective for long-term buy-and-hold strategies, but it is more favorable for active traders, large‑volume transactions, and users of options strategies.

• Hong Kong stock investors who also consider stock code 02840 can interpret this as reflecting the differences in listing and trading convenience for the same product family across different exchanges.

$iShares Gold Trust(IAU.US)$(iShares Gold Trust)

• Similarly tracking the price of gold, with fees of approximately 0.25%, its long-term holding costs are typically lower than those of GLD.

• Liquidity is ample, making it well-suited as the "core gold position" for a U.S. equity account.

$Spdr Gold Minishares Trust(GLDM.US)$(SPDR Gold MiniShares)

• With fees of approximately 0.10%, it is a popular choice among investors who have been increasingly cost-conscious in recent years.

• The unit price is relatively affordable, making it well-suited for dollar-cost averaging or regular, fixed‑amount investments (though you should still assess exchange rates and transaction fees yourself).

Comparison of Hong Kong-listed gold ETFs

When searching for "gold ETFs listed on the Hong Kong stock exchange," investors most often land on these two gold-tracking securities with the highest trading volumes:

SPDR Gold ($SPDR Gold Trust(02840.HK)$ ）

• It is a physically backed gold ETF designed to track the price of gold.

• The Hong Kong Stock Exchange offers multiple trading counters (in HKD, USD, RMB, etc.; actual counters are subject to the information provided by the HKEX and the issuer), facilitating trading in different currencies.

• The advantages are high brand awareness, and typically strong market attention and liquidity.

Value Gold ($Value Gold ETF(03081.HK)$ ）

• It likewise aims to align closely with the LBMA gold fixing price.

• The product's key feature is that the physical gold is stored in Hong Kong, with dedicated counters for Hong Kong dollars (03081), Chinese yuan (83081), U.S. dollars (9081), and other currencies.

• Recurring expenses are capped at approximately 0.40% (see the Product Key Facts Statement for details), making this product suitable for investors seeking a "Hong Kong‑listed + local gold‑holding narrative."

How do you buy gold ETFs? A complete step-by-step guide from opening an account with Futu to placing an order.

This is the most straightforward way to buy a gold ETF: essentially, open a brokerage account → deposit funds → search for the ticker symbol → place your order.

Step 1: Open a Futu securities account

1. Go to the Futubull official website/app to register an account.

2. Complete the opening of your securities account and identity verification.

3. To trade U.S.-listed gold ETFs, please confirm that you have been granted access to U.S. stock trading.

Step 2: Deposit Funds

You can deposit funds using your preferred method, such as eDDA, FPS (Fast Payment System), or bank transfer. To purchase U.S.-listed gold ETFs, you'll need U.S. dollars (or convert your currency first); for Hong Kong stocks, the available settlement currencies—Hong Kong dollars, U.S. dollars, or renminbi—depend on the trading counter.

Step 3: Search and Place Your Order

Enter "gold ETF" in the search bar, input a specific ticker symbol, or browse the ETF page's thematic categories to find gold‑related ETFs.

What risks are associated with investing in gold ETFs?

Gold ETFs eliminate the hassle of holding physical gold, but they are not risk-free. Common risks include:

1. Price volatility risk
   Gold prices are influenced by interest-rate expectations, the U.S. dollar exchange rate, inflation, geopolitical factors, central-bank gold purchases, and ETF fund flows, making them subject to significant short-term volatility. The pullback in the first half of 2026 and the August rebound both underscore that price movements are not unidirectional.

2. Tracking Error Risk
   Management fees, transaction costs, and custody and operational expenses may cause ETF performance to diverge from spot gold prices.

3. Premium/Discount and Liquidity Risk
   Secondary market trading prices may deviate from the net asset value; when trading is thin, bid–ask spreads tend to widen.

4. Credit/Trust and Counterparty-Related Risks
   Although most mainstream products are backed by underlying assets, it remains essential to understand the trust structure, custody arrangements, and the issuer's operational risks.

5. Policy and Regulatory Risks
   Taxation, regulatory changes, or adjustments to product structures may affect the investment experience and costs.

6. Mining ETF‑Specific Risks (in the Event of Mismatch)
   Choosing GDX/GDXJ exposes you to both market‑wide and individual stock‑specific fundamentals risks, and their volatility is typically higher than that of physical gold ETFs.

Further Reading: Learn More About ETF Investment Strategies.Before investing, please conduct a comprehensive assessment based on your personal goals, risk tolerance, and investment horizon, and stay informed about market developments.