HK Stock Market Move | Shandong Gold Mining (01787) rises by nearly 4%, spot gold price breaks $4400 for the first time. The company benefits from the rise in gold prices and increased production capacity.

Shandong Gold Mining (01787) rose nearly 4%, reaching 3.26% as of the end of the article, at HK$37.36, with a turnover of HK$84.88 million. On the news front, on December 22, spot gold prices rose above $4400 per ounce for the first time, hitting a new historical high, with a cumulative increase of nearly 68% so far this year. COMEX gold prices have broken through the $4450 per ounce mark, also reaching a new high. JPMorgan predicts that by the fourth quarter of 2026, the average price of gold will reach $5055 per ounce, and by the end of 2027, the price of gold will reach $5400 per ounce. Macquarie released a research report stating that due to market concerns about geopolitical conflicts, trade frictions, and the sustainability of US debt, the bank has a positive view on gold prices and believes that Shandong Gold Mining will benefit from the rise in gold prices and increased production capacity. The company's third-quarter performance this year was weakened by a fair value change of RMB 625 million, but the bank believes this is a one-time impact and will not continue to pressure the company's profits. The bank has raised the company's target price to HK$43 and maintains an "outperform" rating.