Gold stocks rallied in Hong Kong on Wednesday. Dragon Mining up 41%; China Gold Intl up 10%; Lingbao Gold up 9%; Tongguan Gold up over 7%; CMOC, Chifeng Gold, Zijin Gold up over 6%.
On the news front, spot gold previously broke through the $4,100/oz level, while ongoing Middle East geopolitical tensions and continued central bank accumulation of gold reserves reinforced market consensus on the medium-to-long-term allocation value of precious metals.
DRAGON MINING soared 41%. In a news release, the company announced on August 4 that it expects to achieve a net profit between approximately A$60 million and A$65 million for the period ending June 30, 2026, compared to a net profit after tax of A$12.69 million for the six months ended June 30, 2025.
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