On August 7, ZHAOJIN MINING rose 3.08% in regular trading, trading at HK$24.08/share, with turnover of HK$298 million. The rally was driven by spot gold breaking above the $4,300 level, as weaker-than-expected ADP employment data combined with easing geopolitical tensions propelled gold prices higher.
The gold sector saw broad-based strength, with ZIJIN GOLD INTL up 5.17%, LINGBAO GOLD up 4.96%, CHINAGOLDINTL up 3.4%, ZIJIN MINING up 3.23%, and SD GOLD up 2.34%, reflecting significant sector-wide momentum. Supporting the bullish backdrop, the People's Bank of China has increased gold reserves for 20 consecutive months, providing structural buying support for gold prices.
Institutions have highlighted that ZHAOJIN MINING's Haiyu undersea gold mine is expected to reach full production by 2028, potentially contributing at least 15 tons of annual gold output. Analysts view this as opening substantial long-term growth potential, positioning the company as a high-certainty, high-growth core name within the gold sector with strategic allocation value.
(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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