HK Stock Market Move | Golden stocks hit the bottom and rebound, with spot gold breaking through 4700 US dollars for the first time. Institutions point out that there is still room for gold and silver to rise.

Gold stocks hit bottom and rebound, as of the time of writing, Zijin Mining (02489) rose by 6.4% to HKD 1.33; ZIJIN GOLD INTL (02259) rose by 3% to HKD 175.2; CHINAGOLDINTL (02099) rose by 1.57% to HKD 194.1; Shandong Gold Mining (01787) rose by 1.41% to HKD 43.14. On the news front, in the afternoon of January 20, spot gold rallied strongly, breaking through $4700 per ounce and hitting a new historical high. As of the time of writing, it was trading at $4702.14 per ounce, up by 0.67%. Zhongcai Futures stated on the 20th that in the short term, with ongoing geopolitical risks and uncertainties, as well as the continuing physical shortage of silver, there is still room for gold and silver to rise. Gold and silver are expected to continue to move upward with some strength, and attention should be paid to geopolitical risks and statements from the Federal Reserve. Dongwu Futures pointed out that precious metals have been fluctuating upwards recently. On one hand, the United States announced imposing tariffs on European countries, causing a resurgence of risk aversion and benefiting precious metals; secondly, Powell faced criminal charges, fundamentally challenging the independence of the Federal Reserve again, weakening the credibility of the dollar; finally, the Shanghai Futures Exchange significantly lowered the trading limits of Shanghai Silver to 3000 hands per day, which will squeeze out some leveraged speculative funds and to some extent curb short-term speculative demand. The focus going forward will be on the selection of the Federal Reserve chairman, the standoff between the US and Europe on tariffs, and geopolitical impacts in South America and Greenland.