Gold Price: As QGB.NEO tracks gold, fluctuations in global gold prices directly impact its value. A rise in gold usually increases the ETF's price.

Currency Exchange Rates: The ETF's price is also affected by the CAD/USD exchange rate, as gold is often priced in USD. A stronger CAD could lower the ETF's price.

Interest Rates: Higher interest rates can make bonds and other investments more attractive, potentially reducing demand for gold and subsequently the ETF.

Market Sentiment: Investor confidence and risk appetite influence demand for gold as a safe haven asset. Negative sentiment often drives investors to gold, increasing QGB.NEO's price.

Supply and Demand: Basic supply and demand principles apply. Higher demand for the ETF itself will push its price up, irrespective of the underlying gold price.

Management Fees & Expenses: Although relatively stable, the ETF's expense ratio impacts the overall return, influencing its attractiveness to investors and, indirectly, its price.