HK Stock Market Move | Gold stocks collectively opened higher, ZHAOJIN MINING (01818) rose more than 5%. Gold and silver rebounded after a sharp drop.

Golden stocks collectively rebounded as of press time, with ZHAOJIN MINING (01818) rising 5.12% to HK$34.9, Chifeng Jilong Gold Mining (06693) rising 4.74% to HK$36.7, ZIJIN GOLD INTL (02259) rising 4.67% to HK$210.8, and WANGUO GOLD GP (03939) rising 4.26% to HK$13.46. On the news front, after experiencing a "stampede-style" plunge, gold and silver both rebounded this morning. Spot gold rose by 4% to $4846.78 per ounce, while spot silver surged over 7% to surpass $84 per ounce. Guotai Junan believes that the sharp decline in precious metal prices this round is a technical adjustment to the irrational rise since the beginning of the year, rather than the end of the long-term bull market for gold. In the short term, the cooling of previous overheated speculative sentiment and the decrease in leverage levels are expected to help gold return to a healthier and more stable upward trend. In the long term, as trust levels decline worldwide, the global economy is still undergoing continuous monetary system reconstruction, leaving a large room for central banks to buy gold, and the long-term trend for gold will continue.