HK Stock Market Move | WANGUO GOLD GP(03939) closed up more than 7% with the soaring gold price driving the company's stock price up more than 70% in the month.

WANGUO GOLD GP (03939) rose by more than 7% at the closing, with a cumulative increase of over 75% for the month. As of the time of writing, it rose by 6.71% to HK$13.35, with a trading volume of HK$4.11 billion. On the news front, on January 20th, the international gold price broke through the $4700 per ounce mark for the first time, reaching a new historical high. Galaxy Futures believes that the core reason for the current rise in gold prices is the escalating geopolitical tensions. The rapid tension in political and economic relations between the US and Europe is causing concerns in the market that a new round of trade war may start. Guolian Minsheng Securities released a research report stating that the Gold Ridge mine is the core growth asset for WANGUO GOLD GP. Located in the Solomon Islands, the mine currently has 328 tons of gold resources with an average grade of 1.32 grams per ton, and has huge potential for future reserves growth. The bank stated that the development speed and efficiency of the Gold Ridge mine are expected to further improve in the future.