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Kouyuan Securities: In January, the outlook for Gold investment opportunities remains strongly bullish.
The current market has high expectations for the policies to be implemented after Trump's presidency, with concerns about rising inflation and continuously revised expectations for interest rate cuts, reflected in the strong USD and 10-year government bond yields, which puts pressure on gold prices; however, concerns about inflation support gold prices.
Hong Kong stock afternoon commentary | Hang Seng Index dropped by 1.38% in the morning session while Golden Industrial Concept shares rose against the trend.
With limited space for downward adjustments in interest rate expectations, inflation concerns support gold prices.
With the inflation expectations strengthening, gold prices are rising, and the Copper LC price difference is widening again.
Last week, the market continued to move toward the narrative of strong economic resilience, a solid labor market, and increasing re-inflation expectations, with both gold and copper strengthening. Initially, there were concerns in the market about Trump imposing tariffs on refined copper imports, which widened the price gap between COMEX copper and other regions, and the rebound in COMEX copper prices was particularly pronounced. Subsequently, crude oil rebounded sharply due to concerns over the USA's sanctions on Iran, coupled with strong non-farm payroll data on Friday and hawkish statements from Federal Reserve officials, leading to a continued reduction in market expectations for interest rate cuts from the Federal Reserve this year.
Hong Kong stocks movement | Golden Industrial Concept rose during trading hours as the expectations for interest rate cuts are limited and inflation concerns support gold prices.
Golden Industrial Concept stocks rose during trading; as of the time of writing, SD GOLD (01787) increased by 3.04% to 14.24 Hong Kong dollars; ZHAOJIN MINING (01818) increased by 2.68% to 12.24 Hong Kong dollars; Zijin Mining Group (02899) increased by 1.06% to 15.3 Hong Kong dollars; LINGBAO GOLD (03330) increased by 0.96% to 4.22 Hong Kong dollars.
Hong Kong stock concept tracking | Gold is gradually becoming independent of the dollar system. Central bank purchases of gold highlight significant allocation value (including concept stocks).
Institutions: Gold is still a major asset that deserves attention.
Tianfeng: Gold vs Bitcoin, which can replace the US dollar?
AI represents plan A to maintain the hegemony of the dollar, while Cryptos represent plan B to hedge against challenges to the dollar's position. However, whether it is Bitcoin or AI, Energy is an essential element that cannot be overlooked.
