Understanding the Market | Gold stocks collectively warmed up in the morning, ZHAOJIN MINING rose over 5%, multiple factors boosted the strong rebound in gold prices
Gold stocks collectively rebounded in the morning session, with ZHAOJIN MINING rising 4.91% to HKD 32.02; ZIJIN MINING up 3.33% to HKD 33.56; SD GOLD increasing 2.35% to HKD 36.56; LINGBAO GOLD up 2.18% to HKD 19.22; and CHIFENG GOLD rising 1.81% to HKD 30.3. On the news front, due to the ongoing "shutdown" of the U.S. federal government, the market continues to be optimistic about the prospects of the Federal Reserve cutting interest rates and the increase in gold purchases by central banks in various countries. Gold prices surged on Monday, reaching a new intraday historical high. By the close, the December gold futures price on the New York Commodity Exchange settled at USD 4,359.4 per ounce, an increase of 3.47%. HSBC recently stated in a commodity outlook report that the upward momentum of gold is expected to continue until 2026, driven by strong gold purchases by central banks, ongoing fiscal concerns in the U.S., and expectations of further monetary easing, with a target price of USD 5,000
According to Zhitong Finance APP, gold stocks collectively rebounded in the morning session, with ZHAOJIN MINING (01818) rising 4.91% to HKD 32.02; ZIJIN MINING (02899) up 3.33% to HKD 33.56; SD GOLD (01787) increasing 2.35% to HKD 36.56; LINGBAO GOLD (03330) rising 2.18% to HKD 19.22; and CHIFENG GOLD (06693) up 1.81% to HKD 30.3.
On the news front, due to the ongoing "shutdown" of the U.S. federal government, the market remains optimistic about the Federal Reserve's interest rate cut prospects and the increase in gold purchases by central banks in various countries. Gold prices surged on Monday, reaching a historic intraday high. By the close, the December gold futures price on the New York Commodity Exchange settled at USD 4,359.4 per ounce, an increase of 3.47%. HSBC recently stated in a commodity outlook report that the upward momentum of gold is expected to continue until 2026, driven by strong gold purchases from central banks, ongoing fiscal concerns in the U.S., and expectations of further monetary easing, with a target price of USD 5,000
