HK Stock Market Move | Gold stocks lead the gains, interest rate cut expectations continue to rise, gold prices rise and silver reaches a new all-time high.

Gold stocks lead the way, as of the time of publication, China Silver International (00815) rose by 11.27% to HK$0.79; LINGBAO GOLD (03330) rose by 6.34% to HK$17.42; CHINAGOLDINTL (02099) rose by 6.59% to HK$158.4; Zijin Mining Group (02899) rose by 5.34% to HK$32.34. On the news front, Hassett, Director of the White House National Economic Council, stated that he would be happy to serve if Trump nominates him as the Chairman of the Federal Reserve. Expectations of rate cuts continue to rise, according to CME's "FedWatch" data, the probability of a 25 basis point rate cut by the Federal Reserve in December is at 87.4%, much higher than the 39.6% on November 21. On December 1st, spot gold broke through $4230 per ounce, rising by 0.26% intraday. A survey by Goldman Sachs shows that over 70% of institutional investors expect gold to continue to rise next year, with 36% expecting it to surpass $5000 by the end of next year; boosted by expectations of Fed rate cuts, spot gold has risen by over 60% since the beginning of the year. In addition, driven by global supply constraints and expectations of Fed rate cuts, silver prices have surpassed $57 per ounce for the first time in history.