Underlying Asset Performance: 3SBC tracks the performance of physical gold bullion. The price of gold directly affects the ETF's value. Global economic conditions, interest rates, inflation, and geopolitical events influence gold prices.

Supply and Demand: Like any exchange-traded product, the supply and demand for 3SBC shares impacts its price. High demand relative to supply can push the price up, and vice versa.

Expense Ratio: The ETF's expense ratio, a percentage of assets deducted annually, indirectly affects price. Higher expenses can slightly reduce overall returns compared to a lower-cost alternative.

Currency Fluctuations: As 3SBC is listed on the London Stock Exchange, currency movements between GBP and USD (gold is typically priced in USD) can affect the price for UK investors. A stronger GBP would decrease the price, and vice-versa.

Market Sentiment: Overall investor sentiment towards gold and precious metals affects buying and selling pressure on 3SBC, leading to price changes.