HK Stock Market Move | Golden stocks lead the decline, market risk aversion cools down, precious metal prices retreat from high levels.

In terms of stock price declines, as of the time of publication, Chifeng Jilong Gold Mining (06693) fell by 4.32%, to 35.42 Hong Kong dollars; LINGBAO GOLD (03330) fell by 3.65%, to 23.78 Hong Kong dollars; TONGGUAN GOLD (00340) fell by 3.17%, to 3.36 Hong Kong dollars; Zijin Mining Group (02899) fell by 3.47%, to 39.5 Hong Kong dollars. On the news front, with the easing of risk aversion, precious metal prices have experienced a high-level retracement. On January 22nd, spot gold and silver prices both fell. Spot gold once fell below $1780 per ounce, while spot silver reached a low of $90.781 per ounce. It was reported that on January 21st local time, Trump explicitly stated at the World Economic Forum that he will not use force to take over Greenland, and after meeting with the Secretary-General of NATO, he also stated that he will temporarily not impose tariffs on the 8 European countries that oppose the United States' acquisition of Greenland as originally planned. China Securities Co.,Ltd. pointed out that in the short term, in 2026 there is a high probability of continued AI dominance in the US, with the global economy experiencing a temporary boom in capital expenditure. Copper and gold are expected to complete a textbook-perfect relay, with gold prices in 2026 potentially weaker than in 2025, but copper is worth looking forward to. Until the new order framework becomes clear and a new strong international currency emerges, the "golden" era of gold will truly come to an end. This is the long-term logic of gold.