HK Stock Market Move | Golden stocks collectively rise, the trend of the US dollar is slowing down, combined with the rise of risk aversion sentiment, the price of gold rebounds after six consecutive declines.

Gold stocks collectively rose, as of the time of writing, CHINAGOLDINTL (02099) rose 3.44% to HK$36.05; ZHAOJIN MINING (01818) rose 3.37% to HK$11.66; CHI SILVER GP (00815) rose 3.31% to HK$0.25; Zijin Mining Group (02899) rose 3.09% to HK$15.34. On the news front, the strong trend of the US dollar has slowed down, coupled with the escalating uncertainty of the Russia-Ukraine conflict, causing gold prices to rebound after ending a six-day losing streak, with spot gold back above $2600. It was reported that the US allows Ukraine to attack up to 300 kilometers into Russia's depth, showing that a proper resolution to the Russia-Ukraine war is still far away. Goldman Sachs stated that with major central bank purchases and US rate cuts, gold prices will rise to record levels next year. Goldman Sachs has listed gold as one of the preferred commodity trades for 2025, and indicated that gold prices may continue to rise during Donald Trump's presidency.