{
    "type": "ETP",
    "ucits": false,
    "leverage": true,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [
        "Leverage",
        "Compounding Effect",
        "High Risk Profile"
    ],
    "classification": "complex",
    "supporting_data": "The Leverage Shares 3x Long Gold ETP is classified as complex due to its 3x leverage, which introduces significant risk and complexity. The product explicitly states it is not simple and may be difficult to understand, targeting only sophisticated investors. The compounding effect from daily rebalancing further complicates the return profile, making it unsuitable for retail investors without specialized knowledge. Additionally, the high risk indicator (6 out of 7) and the warning about potential losses magnified by leverage reinforce its complex nature. While the replication method is physical, the leverage and associated risks outweigh this factor.",
    "confidence": 95
}