HK Stock Market Move | Golden stocks mostly rose, ZHAOJIN MINING (01818) rose more than 5%, institutions are optimistic about the long-term value of gold allocation.

Most of the gold stocks are rising, as of the time of writing, ZHAOJIN MINING (01818) rose by 5.46% to 23.18 Hong Kong dollars; Chifeng Jilong Gold Mining (06693) rose by 4.64% to 35.18 Hong Kong dollars; Zijin Mining Group (02899) rose by 4.01% to 35.24 Hong Kong dollars; CHINAGOLDINTL (02099) rose by 2.65% to 162.7 Hong Kong dollars; Shandong Gold Mining (01787) rose by 1.94% to 25.24 Hong Kong dollars. On the news front, on May 26, spot gold hovered around $4,500. Earlier, positive signals from the US-Iran negotiations boosted market sentiment, easing concerns about US inflation, leading to a fall in US bond yields and a rise in precious metals. Zhongtai's recent research report stated that the mid-term upward logic of gold is solid, with the marginal weakening of the US dollar credit system and expectations of downward real interest rates providing core support. China Post Securities believes that the gold price is expected to continue its upward trend after a phase of adjustments. Despite a short-term decline after reaching a new high in London gold prices in the first quarter, Shanghai gold prices remain elevated. The People's Bank of China continues to increase its holdings of gold during a period of gold price adjustment, reflecting its long-term value as a hedge. In addition, with US debt pressure and deficit levels remaining high, the logic of gold as an alternative to US bonds is strengthening.