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Hong Kong stock market midday review | Hang Seng Index up 2.41% in the morning, Gold Sector continues to be strong.
Hong Kong Stock Exchange (00388) rose over 6%, the adjustment in stock price might have reflected tariff risks, while northern capital and policies provide support for Hong Kong stocks.
China Securities Co., Ltd.: Multiple factors drive gold prices upward, with the recovery of the Golden Industrial Concept imminent.
Given that multiple Indicators are driving gold in a strong upward trend, gold company profits have significantly improved, the valuation of the Golden Industrial Concept is generally not high, and there is a large potential for stock price recovery.
The dominance of the US dollar is faltering! Global de-dollarization is accelerating, and the euro and Gold have become the new favorites.
Bank of America pointed out that the dollar's share in Global Forex reserves has decreased from 66% in 2015 to less than 58% in the third quarter of 2024, and the attraction of U.S. Treasuries has also significantly declined. The three major factors that previously restricted the Euro have all been reversed, and central banks' Gold Buy volumes have exceeded 1,000 tons for three consecutive years. These two Assets are becoming a new direction for central banks' diversified allocation.
Market disruption alert | Chifeng Jilong Gold Mining surged over 12%, Golden Industrial Concept stocks collectively strengthened, international gold prices reached new highs, and U.S. CPI data sparked expectations for interest rate cuts.
In terms of news, the unadjusted CPI annual rate for March in the USA released yesterday was 2.4%, hitting a six-month low, which is below the market expectation of 2.6%. The market has almost fully priced in a rate cut by the Federal Reserve in June.
[Brokerage Focus] Everbright Securities: Gold is expected to rise in the future. Trump's tariff policy is still one of the risk factors currently attracting market attention.
Jinwu Financial News | Everbright states that Gold remains one of the favored investment products this year, with a short-term Target Price for spot gold prices set at $3,200 per ounce. Investors should note that the current tariff policy of Trump is still one of the risk factors of concern in the market, which significantly affects the movements of various Assets in the short term. If the spot gold price struggles to stabilize at around $2,947, the 50-day moving average, a test of $2,900 per ounce cannot be ruled out. However, after a short-term consolidation, the price of gold is still expected to make further gains in the mid to long term.
Even in the tariff storm, there was no "naked swimming"! Spot gold returned to 3,100 USD, and Hong Kong stocks' Golden Industrial Concept rose again.
① The easing of tariff risks sees spot gold returning to 3100 USD. What logic supports the rapid rebound in gold prices? ② Hong Kong stocks of the Golden Industrial Concept show a rebound trend again. How strong are the individual stock movements?
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