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Hong Kong stock sector tracking | Gold price repeatedly hitting historical highs may see liquidity and valuation improvement in the gold and precious metals sector (with concept stocks)
Analysts say, "Any signs of weakness could increase expectations that the Federal Reserve will continue to cut interest rates significantly."
Golden industrial concept strengthens in the afternoon, Zhaojin Mining (01818) rises by 3.92%, and china gold price sees the highest September increase of 24%.
Golden Industrial Concept News | Golden industrial concept strengthens in the afternoon, Zhaojin Mining (01818) up 3.92%, sd gold (01787) up 3.43%, zijin mining group (02899) up 2.72%, Chinagoldintl (02099) up 1.37%. In terms of news, data from the Shanghai Gold Exchange shows that in the first 9 months, the spot gold trading market on the Shanghai Gold Exchange has been quite active, with a 24% increase in the price of AU99.99, marking the largest increase in the same period in the past five years. The price of AU99.99 on the Shanghai Gold Exchange has remained above 590 yuan per gram for several days, reaching a new record on September 27.
Optimistic expectations of interest rate cuts + Middle East risks, gold surged 13% in Q3, achieving its best quarterly performance in 8 years.
The gold price rose more than 13% in the third quarter, marking the best quarterly performance since the first quarter of 2016.
[Brokerage Focus] Zheshang brokerage first gave zhaojin mining (01818) a "buy" rating, expecting it to embark on a fast-track of growth with both volume and price rising.
Jingu Financial News | Zhejiang Commercial Securities research reports pointed out that if the USA is difficult to satisfy both the conditions of "good economy + low inflation" in the medium term, the price of gold is expected to remain bullish, thereby driving the growth of profitability of precious metals companies. Zhaojin Mining (01818) has a controlling shareholder in Zhaoyuan Mining Group, with the ultimate controller being the People's Government of Zhaoyuan City; A-share leading mining company Zijin Mining Group has invested to become the company's second largest shareholder, highlighting the company's strong development potential. The bank pointed out that with the high gold price and increasing production volume, Zhaojin Mining is expected to embark on a growth fast track with both volume and price rising. The bank predicts that in 2024/2025/2026, the company will achieve respective growth.
The most shining moment in 12 years! Is the "golden age" of silver about to begin?
①With the spot silver price hitting the highest level in nearly 12 years this week, the cumulative increase in the price of this precious metal has reached about 34% so far this year, even overshadowing the historically high gold prices; ②Multiple signs indicate that whether as a store of value or an industrial commodity, the demand for silver has been consistently strong recently.
Are Investors Undervaluing Zhaojin Mining Industry Company Limited (HKG:1818) By 35%?
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