The CSOP 2x Leveraged Gold ETF (07299) has extended its decline, falling over 5% in recent trading. As of the latest update, the ETF is down 5.5%, trading at HK$20.28 with a turnover of approximately HK$19.95 million.

This movement follows a broader pullback in international gold prices. As of June 24th, gold futures prices dipped below $4,000 per ounce during the session, influenced by factors including improved transit conditions in the Strait of Hormuz and a strengthening U.S. dollar index. The current international gold price has retreated nearly 30% from its all-time high reached earlier this year.

Market analysis points to recent central bank commentary as a key headwind. Goldman Sachs previously noted that the "more hawkish-than-expected" signals from the first FOMC meeting under the new Fed Chair have the potential to curb market anxieties over central bank independence in developed economies for the coming quarters. This shift in the policy outlook is seen as diminishing gold's appeal as a traditional hedge against macroeconomic policy uncertainty.