HK Stock Market Move | Gold mining stocks regain momentum as falling oil prices ease energy inflation concerns; market eyes tonight's CPI data.

Gold mining stocks regained momentum. As of press time, CHINAGOLDINTL (02099) rose 5.11% to HK$181.1; Shandong Gold Mining (01787) rose 2.66% to HK$18.91; Chifeng Jilong Gold Mining (06693) rose 2.26% to HK$33.48; LINGBAO GOLD (03330) rose 1.63% to HK$17.42. On the news front, falling oil prices eased concerns about energy inflation, and combined with a weaker US dollar, gold climbed back above US$4,100/oz. In addition, the latest data from the People's Bank of China showed that gold reserves at the end of October stood at 78.3 million ounces, up 830,000 ounces month-on-month, marking the 24th consecutive month of gold purchases, with the single-month increase hitting a new high since the PBOC resumed gold buying in November 2024. It is worth noting that at 9:30 tonight, the US Bureau of Labor Statistics will release October CPI data. CITIC Futures noted that falling oil prices and a weaker dollar have driven a phase of recovery in gold and silver, but labor market resilience and high interest rate constraints remain, and the cooling of short-end inflation expectations is not yet sufficient to confirm a policy shift; the sustainability of gold's rebound depends on whether real interest rates and allocation funds can form a resonance.