HK Stock Market Move | Golden stocks rise against the market trend, with central bank gold purchases and increased demand for gold investments. Institutions are optimistic that the price center will continue to rise.

Gold stocks are rising against the market trend. As of the time of this report, Zijin Gold Intl (02259) increased by 5.78% to HK$155.4; Chifeng Jilong Gold Mining (06693) increased by 4.87% to HK$31.9; Tongguan Gold (00340) increased by 2.79% to HK$2.95; Lingbao Gold (03330) increased by 1.69% to HK$18.07. In terms of news, the latest statistics from the State Administration of Foreign Exchange show that as of the end of November, China's gold reserves reached 74.12 million ounces, an increase of 3 million ounces from the previous month. In addition, observations on the global central bank gold buying trend show that in the third quarter, global gold demand reached a total of 1313 tons, with a total amount of demand of up to 146 billion US dollars, setting a historical record for gold demand in a single quarter. Ping An Securities released a research report stating that a rate cut by the Federal Reserve in December may gradually push up the price of gold. In the long term, the unresolved US debt problem, weakening US dollar credit, continued central bank gold purchases, and increasing demand for gold investments may continue to support the upward trend in precious metal prices.