HK Stock Market Move | ZHAOJIN MINING (01818) rose more than 5% during the trading day. Deep-sea exploration for minerals achieved a breakthrough. Spot gold reached a new high again.

Zhaojin Mining (01818) rose more than 5% during trading hours, and as of press time, it was up 4.2% to HK$31.72 with a turnover of HK$1.97 billion. On the news front, early on December 22, spot gold surged, breaking through the historical record set on October 20 and hitting a new high. As of press time, it was trading at $4383.22 per ounce, up over 1%. Goldman Sachs reiterated its bullish view on gold in its latest report, predicting that the price of gold will hit a historical high of $4900 per ounce in December 2026. This forecast is mainly based on two drivers: structural demand, with emerging market central banks continuing to buy gold in large amounts as a hedge against geopolitical risks, and cyclical factors, with the Fed rate cut cycle expected to push ETF funds back into physical gold markets, exacerbating supply and demand tensions. It is worth noting that Zhaojin Mining's subsidiary, Ruihai Mining, recently achieved precise positioning of concealed mineral deposits in the shallow areas of the seabed below 3000 meters. This means that Ruihai Mining has achieved another breakthrough in exploration. First Shanghai's research report previously pointed out that due to the scale effect and high-grade nature of offshore gold mines, it is expected that the comprehensive cost of K gold after production will be at an extremely low level in the industry, giving it strong market competitiveness and serving as the core engine for the company's future leapfrog development.