HK Stock Market Move | Most gold stocks are rising, with safe-haven sentiment driving gold prices to continue to rise. Spot gold prices have once surpassed $4060.

Gold stocks mostly rose in the morning session, as of the time of writing, ZIJIN GOLD INTL (02259) rose 5.44% to 137.5 Hong Kong dollars; GT GOLD (08299) rose 5.38% to 0.49 Hong Kong dollars; Chifeng Jilong Gold Mining (06693) rose 3.87% to 33.82 Hong Kong dollars; WANGUO GOLD GP (03939) rose 3.64% to 37 Hong Kong dollars; LINGBAO GOLD (03330) rose 3.72% to 19.52 Hong Kong dollars. On the news front, on October 13, spot gold briefly rose above $4060 per ounce, hitting a record high. US President Trump announced that starting on November 1st, new tariffs of 100% will be imposed on Chinese imports, in addition to existing tariffs; on the same day, the US will also implement export controls on "all key software;" tariff risks are significantly increasing. Guosen believes that with the decline of the three major US stock indexes and the rise in safe-haven sentiment, gold prices continue to rise. It is still optimistic about the medium to long-term price trend of gold. The proportion of gold in the asset allocation of residents is suitable between 2-10%, and the proportion of institutional allocation can be appropriately increased.