HK Stock Market Move | LINGBAO GOLD(03330) rose over 9% as demand for safe-haven assets increased, driving up the price of gold. The central bank increased its gold holdings for the second consecutive month.

LINGBAO GOLD (03330) surged by over 9% to a high of 3.8 Hong Kong dollars, reaching a new high since April 2024. As of the time of writing, it has increased by 9.2% to 3.8 Hong Kong dollars with a trading volume of 16.5392 million Hong Kong dollars. On the news front, the expansionist remarks by US President-elect Trump have sparked a safe-haven demand for geopolitical risks, pushing spot gold above $2670 per ounce. On January 7, the official website of the Central Bank showed that China's gold reserves at the end of December 2024 were 73.29 million ounces, an increase of 330,000 ounces from the end of November's 72.96 million ounces. In November, the Central Bank increased its gold reserves by 160,000 ounces, after suspending the increase for six consecutive months. This means that after a six-month hiatus, the Central Bank has increased its gold holdings for two consecutive months. CITIC SEC believes that central banks around the world are likely to continue buying gold, and the enthusiasm for gold investment may persist. This year, geopolitical conflicts in the Middle East, Russia, Ukraine, and other regions may still be unstable, which is favorable for the upward trend in gold prices. It is worth mentioning that LINGBAO GOLD's public account previously published the New Year's address for 2025. It mentioned that in the past year, the company seized good market opportunities, accelerated key projects, promoted digital transformation, deepened internal reforms, and achieved significant results in production and operation. It historically achieved profitability in the mining and smelting sectors, with sales revenue and operating performance expected to reach a new historical high for the year.