--- title: "ETF Volatility | Southern Double Long Gold Rises Over 4% Multiple Factors Drive Strong Gold Price Rebound" type: "News" locale: "en" url: "https://longbridge.com/en/news/295063808.md" description: "The Southern Double Long Gold has risen over 4%, currently up 4.09%, priced at HKD 22.9, with a transaction volume of HKD 47.3833 million. On the news front, international gold prices have significantly jumped, with spot gold prices returning above USD 4,200 per ounce, and briefly breaking through the USD 4,300 per ounce mark, with a daily increase of over 4% yesterday. The U.S. ADP non-farm employment report for July showed only an increase of 44,000 jobs, lower than the market expectation of 75,000 jobs, indicating a cooling job market that begins to ease the Federal Reserve's interest rate hike pressure. Meanwhile, expectations of the reopening of the Strait of Hormuz have also alleviated energy inflation. Additionally, on August 4th local time, the Bank of Korea announced that it would resume gold reserve allocation and include gold ETFs in its reserve investment scope, while establishing a mechanism for purchasing domestically produced gold in South Korea. This means that the central bank, which had long suspended increasing its gold holdings due to poor timing in the last round of gold purchases, is rejoining the ranks of global central banks increasing their gold reserves" datetime: "2026-08-06T06:25:02.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/295063808.md) - [en](https://longbridge.com/en/news/295063808.md) - [zh-HK](https://longbridge.com/zh-HK/news/295063808.md) --- # ETF Volatility | Southern Double Long Gold Rises Over 4% Multiple Factors Drive Strong Gold Price Rebound According to the Zhitong Finance APP, the FL2CSOPGOLD (07299) rose over 4%, up 4.09% as of the time of publication, priced at HKD 22.9, with a trading volume of HKD 47.3833 million. In terms of news, international gold prices have significantly surged, with spot gold prices returning above USD 4,200 per ounce and briefly breaking through the USD 4,300 per ounce mark, with a daily increase of over 4% yesterday. The U.S. ADP small non-farm payrolls for July added only 44,000 jobs, lower than the market expectation of 75,000, indicating that the cooling job market is beginning to ease the pressure on the Federal Reserve for interest rate hikes. Meanwhile, expectations for the reopening of the Strait of Hormuz have also alleviated energy inflation. Additionally, on August 4 local time, the Bank of Korea announced that it would resume gold reserve allocation and include gold ETFs in its reserve investment scope, while establishing a mechanism for purchasing domestically produced gold in South Korea. This means that the central bank, which had long suspended increasing its gold holdings due to poor timing in the previous round of gold purchases, is rejoining the ranks of global central banks increasing their gold reserves ### Related Stocks - [UGL.US](https://longbridge.com/en/quote/UGL.US.md) - [GLD.US](https://longbridge.com/en/quote/GLD.US.md) - [IAU.US](https://longbridge.com/en/quote/IAU.US.md) - [GLDW.US](https://longbridge.com/en/quote/GLDW.US.md) - [GLDM.US](https://longbridge.com/en/quote/GLDM.US.md) - [07299.HK](https://longbridge.com/en/quote/07299.HK.md) - [518850.CN](https://longbridge.com/en/quote/518850.CN.md) ## Related News & Research - [PRECIOUS-Gold holds ground with Middle East turmoil, US jobs data in focus](https://longbridge.com/en/news/294771926.md) - [PRECIOUS-Gold eases as markets weigh Middle East uncertainty, inflation risks](https://longbridge.com/en/news/294710218.md) - [PRECIOUS-Gold hits seven-week peak as market participants weigh Hormuz reopening prospects](https://longbridge.com/en/news/295067079.md) - [BREAKINGVIEWS-China wants more than a Fort Knox from Hong Kong](https://longbridge.com/en/news/295172133.md) - [PRECIOUS-Gold hovers near seven-week high on easing rate hike concerns](https://longbridge.com/en/news/295079891.md)