HK Stock Market Move | Gold stocks continue recent gains COMEX gold surpasses $3700 Gold mining stocks see increased profit expectations

Gold stocks continue their recent upward trend. As of the time of writing, Shandong Gold Mining (01787) rose by 3.65% to HK$36.34; CHI SILVER GP(00815) rose by 2% to HK$0.51; ZHAOJIN MINING (01818) rose by 1.95% to HK$30.3; Chifeng Jilong Gold Mining (06693) rose by 1.16% to HK$31.4. On the news front, on September 15, COMEX gold broke through $3700 per ounce to hit a new high, with a cumulative increase of over 40% so far this year. It is reported that JPMorgan has raised its price forecast for gold, predicting that spot gold prices will break through the $4000 per ounce mark in the first quarter of 2026, driven by the upcoming Fed rate cut cycle and the strong investor demand ignited by it. Meanwhile, if the Fed's independence is compromised, investors' capital rotation may push gold prices to a high of $5000 within two quarters. Huaxi previously pointed out that in the long term, global monetary and debt concerns have benefited gold in the trading direction of debt and monetary easing. The passage of the "Big and Beautiful" bill is expected to increase the US fiscal deficit by $3.4 trillion, with many countries facing high fiscal deficits, rising government bond rates, and a positive outlook for future gold prices. The rise in gold prices is benefiting gold mining stocks, with enhanced profit expectations. Currently, gold stocks are undervalued, and there is potential for gold stock allocation opportunities.