According to the Zhixun Finance APP, golden industrial concept stocks strengthened against the market. As of the time of publication, Lingbao Gold (03330) rose by 5.67% to HKD 3.17; Zhaojin Mining (01818) rose by 3.83% to HKD 14.64; Chinagoldintl (02099) rose by 3.69% to HKD 36.55; Zijin Mining Group (02899) rose by 3.14% to HKD 17.74.

On the news front, the price of gold reached a historical high of $2,724.47 per ounce on Monday, driven by escalated tensions in the Middle East and the uncertainty of the US elections. Discussions in Israel about potential strikes against Iran, as well as the fierce competition in the US elections, have increased market concerns.Its price has soared to a historic high, closely related to market expectations of interest rate cuts by the Federal Reserve.Despite US President Joe Biden's call for a ceasefire, Israel's hardline position has kept tensions high in the Middle East. Investors are adjusting their portfolios ahead of the election, with polls showing intense competition between Trump and Harris. Gold, as a traditional safe-haven asset, has risen by over 30% this year, with rate cuts by the Federal Reserve and central bank purchases supporting the price of gold.

Deutsche Bank released research reports stating that at times this year, gold has risen without financial fair value support. Currently, the Federal Reserve still has further room for easing, which further enhances the upward trend of gold. Gold prices are expected to continue to outperform the financial fair value by the end of this year, with the largest magnitude since 1998. In addition, the relative change rate between gold prices and the US dollar this year is the highest in the past twenty-five years.