Gold stocks saw broad gains in Hong Kong trading. At the time of writing, Lingbao Gold (03330) rose 6.34% to HKD 17.95, CHI Silver GP (00815) climbed 5.97% to HKD 0.71, Everest Gold (01815) advanced 5.04% to HKD 2.5, Tongguan Gold (00340) gained 4.94% to HKD 2.76, and Zijin Gold Intl (02259) increased 2.78% to HKD 140.7.
The rally comes as precious metals strengthened ahead of the Federal Reserve's policy decision. Spot silver surged past USD 61 per ounce, hitting a record high with year-to-date gains exceeding 100%, while spot gold breached USD 4,210 per ounce.
Market consensus suggests weak U.S. labor data may prompt the Fed to cut rates by another 25 basis points. State Street Global Advisors noted that gold's 2025 performance marks its strongest annual gain since 1979, though the pace may moderate in 2026, with prices likely oscillating between USD 4,000–4,500 per ounce.
Key drivers supporting gold's structural bull cycle include Fed easing, robust central bank and retail demand, ETF inflows, rising stock-bond correlation, and global debt concerns.
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