Gold(IN20328.HK)

Hang Seng Gold ETF jumps over 9% on debut as spot gold hits record

The Hang Seng Gold ETF (3170.HK) surged over 9% on its debut in Hong Kong as spot gold prices reached a record near $5,600 an ounce. This increase is attributed to investors seeking safety amid geopolitical and economic uncertainties. Gold has risen more than 10% this week, driven by safe-haven demand and central bank purchases. Analysts caution that while the market momentum is strong, caution is advised against buying at elevated prices. E-Fund Management announced a suspension of subscriptions for its Gold Theme Fund due to surging gold prices.

"Large Banks" Huayan raises Zijin Mining's target price, expects high copper and gold prices

HSBC's research report raised the target prices for Zijin Mining's H shares and A shares, from HKD 43 to HKD 58 and from RMB 39.2 to RMB 51.2, respectively, while also raising the target price for Zijin Gold International from HKD 178 to HKD 269, maintaining a "Buy" rating. It is expected that copper prices will remain high in 2026, with gold prices supported by a weaker US dollar and geopolitical uncertainties. After acquiring Joint Gold, Zijin Gold International is expected to achieve an average annual compound growth rate of approximately 37% in gold production from 2025 to 2027

Goldman Sachs raises gold price forecasts for this year and next, increases target prices and earnings forecasts for Zijin Mining and CMOC

Goldman Sachs raised its gold price forecast for 2026 to 2027 by 10% to 16%, expecting an average price of USD 4,978 per ounce in 2026 and USD 5,585 per ounce in the first half of 2027. At the same time, the copper price forecast was raised by 7% to USD 12,200 per ton. Goldman Sachs upgraded its earnings forecasts for Zijin Mining and CMOC, with increases ranging from 9% to 33%, and maintained a "Buy" rating, raising the target prices to HKD 52 and RMB 28, respectively

LME copper rose over 4%, reported at USD 13,616.16 per ton

Gold Nears $5,600 to Hit New Record High as Fed Dovishness and Middle East Tensions Mount; Is $6,000 Not a Dream?

Spot gold prices are nearing a record high of $5,600 per ounce, driven by dovish signals from the Federal Reserve and escalating tensions in the Middle East. The Fed's decision to maintain interest rates and expectations of future cuts have lowered the opportunity cost of holding gold. Geopolitical conflicts, particularly involving Iran, are increasing market risk aversion, further boosting gold demand as a safe-haven asset. Additionally, strong capital support from central banks and funds underpins the price rally, with predictions suggesting gold could surpass $6,000 this year.