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Gold prices surged by over 25%! Several central bank officials made rare statements: supporting an increase in gold reserves.
Central bank officials from countries such as Mexico, Mongolia, and the Czech Republic have expressed their support for increasing gold reserves.
Central Bankers Make Rare Comments in Favor of Bigger Gold Stash
Open Source Securities: Q4 commodity prices may experience significant fluctuations, with gold remaining the preferred choice for current allocation.
The uncertainty of the 2024 Q4 usa election and the pace of interest rate cuts by the Federal Reserve may once again dominate commodity price fluctuations, with the volatility of csi commodity equity index prices possibly significantly rising.
Hong Kong stock market anomaly | Zhaojin Mining (01818) rose more than 3% at the close, with a significant year-on-year increase in net profit in the third quarter. The company's offshore gold mine is about to start production.
Zhaojin Mining (01818) rose more than 3% in the final trading session, as of the time of publication, up 2.75%, at HK$13.46, with a turnover of 0.29 billion Hong Kong dollars.
[Brokerage Focus] Guotai Junan Securities maintains a 'buy' rating on Zhaojin Mining (01818), indicating that Q3 profits meet expectations.
Jingu CaiXun | Industrial Securities issued research reports, stating that Zhaojin Mining (01818) announced its performance for the first 9 months of 2024, with Q3 quarterly revenue increasing by +17.8% year-on-year to 3.25 billion yuan, net income attributable to mother company at 0.35 billion yuan, up +169.7% year-on-year and +10.5% quarter-on-quarter. The report further indicates that after excluding the impact of impairment and fair value fluctuations, the adjusted net income attributable to mother company in Q3 was 0.57 billion yuan, a 36% increase from Q2, and the profit met expectations. The bank estimates that the Tuo Abujia gold mine contributed more than half of the performance increase, in addition to performance growth from gold price elasticity and cost savings, partly from domestically produced gold.
Stocks in Hong Kong surged against the trend, with golden industrial concept rising more than 5%, chinagoldintl experiencing geopolitical tensions.
Chinagoldintl rose more than 5%, sd gold rose 3%, zhaojin mining rose 2.9%, zijin mining group rose 2.7%. In terms of news, the recent tension in the Middle East continues to escalate; the General Staff of the Korean People's Army issued a combat readiness directive yesterday, and the military tension is on the brink of eruption.
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