Movement Alert|ZIJIN MINING Rises 3.07% in Regular Trading, Gold Sector Rally Driven by Central Bank Buying and Price Support at $4000

Market Focus08-06 09:35

On August 6, ZIJIN MINING rose 3.07% in regular trading, trading at 36.32 HKD/share, with turnover of 803 million HKD. The stock gained alongside a broad rally in the gold sector.

On the news front, international gold prices have stabilized around the $4,000 level, with sustained central bank gold purchases providing strong floor support. China's central bank has increased gold reserves for 20 consecutive months, with estimated monthly purchases of 67 metric tons — far exceeding the pre-2022 average of 17 metric tons. Within the Gold sector, LINGBAO GOLD rose 9.65%, ZHAOJIN MINING gained 6.77%, ZIJIN GOLD INTL advanced 5.89%, SD GOLD climbed 5.71%, and CHINAGOLDINTL added 4.67%.

On fundamentals, the company's H1 net profit attributable to shareholders is expected to reach 39.1 billion yuan, up 68% year-over-year, with gold production of 47 tons representing a 15% increase. The recent termination of the 5.5 billion CAD Allied Gold acquisition — replaced by a 416.6 million CAD subscription for a 9.2% stake — has removed significant M&A uncertainty.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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