Changes in Hong Kong stocks | Spot gold weighs 4,000 US dollars, Chifeng Gold (06693) rose more than 14%, Lingbao Gold (03330) rose more than 12%

The Zhitong Finance App learned that gold stocks rose sharply in the afternoon. As of press release, Chifeng Gold (06693) rose 14.03% to HK$30.4; Lingbao Gold (03330) rose 12.01% to HK$16.04; Zijin Gold International (02259) rose 10.63% to HK$129; and Zhaojin Mining (01818) rose 8.89% to HK$16.65.

According to the news, spot gold continued to rise in the afternoon. As of press time, it had surpassed 4,000 US dollars and rose 1.92% during the day. On November 3, the World Gold Council released the “Global Gold Demand Trends” report for the third quarter. In the third quarter, the gold reserves of central banks and other official institutions around the world increased net by 321 tons, an increase of 42% over the previous year, a record high in a single quarter since the fourth quarter of 2024. Combined with weakening oil prices to ease inflation expectations, the precious metals sector ushered in a recovery.

The US midterm elections are being vigorously counted. In Polymarket's bets on the US midterm elections, the probability of the Democratic Party sweeping Congress is currently as high as 99%. The analysis points out that the Democratic Party gains control of Congress and may cut war funding, which is expected to ease the situation between the US and Iran, thereby lowering energy prices, lowering inflation expectations, and weakening bond yields and the US dollar, bringing benefits to gold.