HK Stock Market Move | Gold stocks continue to rise, the U.S. job market still shows signs of weakness, and international gold prices have stopped falling and rebounded.

Gold stocks continue to rise. As of the time of writing, CHINAGOLDINTL (02099) rose by 7.05% to 139.7 Hong Kong dollars; Shandong Gold Mining (01787) rose by 6.63% to 34.4 Hong Kong dollars; ZIJIN GOLD INTL (02259) rose by 6.34% to 140.9 Hong Kong dollars; ZHAOJIN MINING (01818) rose by 6.01% to 29.3 Hong Kong dollars. On the news front, the price of gold stabilized and rebounded after three consecutive days of decline. In the afternoon of November 19, spot gold once approached 4100 US dollars per ounce, reaching 4087 US dollars per ounce at the time of writing, up 0.48% on the day. The "small non-farm" ADP weekly employment data showed that the average number of private sector jobs in the US decreased by 2500 people per week in the four weeks leading up to November 1. In addition, according to US Labor Department data, in the week ending October 18, initial jobless claims in the US totaled 232,000 people, and continuing jobless claims rose slightly to 1.957 million people. Moreover, with regards to the Federal Reserve, Trump stated that he has selected his nominee for the next Fed chairman. The current market is paying attention to the US non-farm data to be released this week. Guotai Haitong believes that in the long-term context of de-dollarization, the status of gold as a metal currency is gradually rising. The US interest rate cuts and resulting liquidity loosening may lead to a weak US dollar, while central banks around the world continue to exhibit strong behavior in buying gold, providing support for the medium to long-term price of gold.