Changes in Hong Kong stocks | Gold stocks collectively rise, expectations of the Fed's interest rate hike fall, compounded by the central bank's gold purchases, continuing to see the high price of gold to $5,100

The Zhitong Finance App learned that gold stocks rose collectively. As of press release, Zijin Gold International (02259) rose 5.41% to HK$134.4; Zhaojin Mining (01818) rose 4.41% to HK$23.68; Shandong Gold (01787) rose 4.39% to HK$22.34; Lingbao Gold (03330) rose 4.2% to HK$22.32; China Gold International (02099) rose 3.36% to HK$221.8.

According to the news, spot gold fluctuated and rallied today, returning above 4,400 US dollars. Last week, US CPI and PPI inflation data were released one after another, and inflationary pressure eased marginally. Combined with the unexpected negative change in US retail sales and the fall in oil prices in July, the market's expectations for another rate hike by the Federal Reserve declined significantly. At the same time, the global central bank's gold purchase trend continued. The net purchase volume of global central banks surged 62% year on year in the second quarter, setting a record high in history for the second quarter of previous years.

According to the Deutsche Bank Research Report, the fifth round of “explosive” upward phase of gold, which began in 2024, continues. Central bank purchases and ETF capital inflows form dual inelastic demand support. The year-end price target range is 4700-5100 US dollars/ounce. In addition, the latest interim report released by Zijin Gold International shows that in the first half of this year, Zijin Gold International's mineral gold production was about 27.3 tons, up 44% year on year; achieved revenue of about 3,987 billion US dollars, up 100% year on year; profit attributable to parent company owners was about 1,451 billion US dollars, a sharp increase of 179% year on year.