HK Stock Market Move | Gold shares opened higher across the board, geopolitical tension combined with multiple central bank purchases of gold, and spot gold broke through $5,500 for the first time.

Gold stocks opened higher across the board. As of the time of writing, Chifeng Jilong Gold Mining (06693) rose by 6.2% to 49 Hong Kong dollars; Shandong Gold Mining (01787) rose by 4.49% to 53.5 Hong Kong dollars; ZHAOJIN MINING (01818) rose by 3.04% to 42 Hong Kong dollars; ZIJIN GOLD INTL (02259) rose by 1.9% to 258 Hong Kong dollars. On the news front, US President Trump stated that a massive fleet is heading towards Iran, prepared to quickly fulfill its mission. He hopes Iran can quickly come to the negotiation table. In response to the US threats, Iran's foreign minister stated that Iran's armed forces are on high alert. In addition, Hungary may consider increasing the proportion of gold in its central bank reserves, and the Polish central bank has approved a plan to purchase up to 150 tons of gold. It is worth noting that on January 29, spot gold broke through the $5500 per ounce mark for the first time, hitting a new historical high. Morgan Stanley released a research report stating that the Polish central bank is shifting towards an absolute tonnage target for gold reserves, rather than a percentage of total reserves, indicating a decrease in sensitivity to prices. The bank believes that the rally in gold prices is not yet over, emphasizing a target of $5700 per ounce for the second half of 2026 in a bullish scenario.