HK Stock Market Move | Golden stocks collectively rose and the price of gold has surpassed the resistance level of $4100. The market is closely watching for the end point of the US government shutdown.

Golden stocks collectively rose, as of the time of writing, CHINAGOLDINTL (02099) rose 4.89% to HK$143.6; PERSISTENCE RES (02489) rose 4.38% to HK$1.43; LINGBAO GOLD (03330) rose 4.29% to HK$17.76; Chifeng Jilong Gold Mining (06693) rose 2.45% to HK$30.98; Shandong Gold Mining (01787) rose 2.24% to HK$34.76. On the news front, during the Asian session on November 12th, international gold trading reached a high of $4208.79 per ounce. After a brief pullback, gold is quickly regaining lost ground, with the price currently breaking through the resistance level of $4100 and testing the $4200 mark. With the end of the government shutdown, which caused the delay in key economic data such as non-farm payrolls, impending, the market generally expects these data to highlight the weakness of the US economy. Weak economic data will provide strong support for the Fed's monetary policy easing in December, making market expectations for a 25 basis point rate cut that month even stronger. UBS analysts stated that everyone is waiting for clearer information on the government shutdown and when the US data will be released. Before gold prices continue to rise, they may temporarily stabilize. From a gold price perspective, it is still in an upward trend. In addition, there have been no structural changes. Citigroup's latest report believes that in a bull market scenario, gold prices will rise to $6000 by 2027, with the core logic being a significant mismatch between global wealth and the tiny physical gold market. The report estimates that a mere 1.5% increase in global household wealth allocation to gold would require 18 years of mining supply, and this imbalance can only be resolved by soaring prices. Additionally, the main driver of this rally is US investors, not central banks, with ETF inflows contributing most of the global increase.