HK Stock Market Move | Gold stocks continue to rise, Zijin Gold Intl (02259) up more than 8%, Lingbao Gold (03330) up more than 7%.

Gold stocks continue to rise. As of the time of writing, WANGUO GOLD GP (03939) rose 8.2% to HK$17.28; ZIJIN GOLD INTL (02259) rose 8.2% to HK$227; LINGBAO GOLD (03330) rose 7.84% to HK$25.32; Chifeng Jilong Gold Mining (06693) rose 5.89% to HK$37.74. On the news front, gold prices are fluctuating, with spot gold hovering above $5050 per ounce as of the time of writing. The US retail sales in December 2025 were lower than expected, slightly raising expectations of an interest rate cut. In addition, geopolitical tensions have not eased, with the US announcing that the second round of talks with Iran will take place next week, and sending a military threat of "if US-Iran negotiations fail, another aircraft carrier strike group may be sent to the Middle East." Currently, the market is waiting for the US non-farm employment report for January, which will be released on Wednesday. David Wilson, head of commodity strategy at BNP Paribas, stated that with continued macroeconomic and geopolitical risks, gold prices could rise to $6000 per ounce by the end of the year, and the gold-silver ratio is also expected to increase. He believes that although the gold-silver ratio is still below its two-year average, it has already rebounded. "I think there is still room for further divergence in the trends of gold and silver," and the outlook for gold is also supported by the continued purchases by central banks around the world. Many banks and asset management companies, including Deutsche Bank and Goldman Sachs, are bullish on gold prices and believe that long-term demand drivers will support gold prices.