Gold stocks led the gains. As of press time, China Gold International Resources (02099.HK) rose 4.41% to HKD 168; China Silver Group (00815.HK) surged 4.29% to HKD 0.73; Lingbao Gold (03330.HK) climbed 3.08% to HKD 20.1; Shandong Gold Mining (01787.HK) increased by 2.56% to HKD 40.92; and Zijin Mining (01818.HK) advanced 2.59% to HKD 36.5.
According to Zhitong Finance APP, gold stocks have shown significant gains. As of press time, China Gold International (02099.HK) rose by 4.41% to HKD 168; China Silver Group (00815.HK) increased by 4.29% to HKD 0.73; Lingbao Gold (03330.HK) climbed by 3.08% to HKD 20.1; Shandong Gold (01787.HK) gained 2.56% to HKD 40.92; and Zhaojin Mining (01818.HK) advanced by 2.59% to HKD 36.5.
In terms of news, geopolitical turbulence has been frequent at the start of 2026. U.S. forces previously forcibly detained and removed Venezuelan President Maduro and his wife; tensions in Iran have escalated, with Trump publicly threatening to "provide assistance anytime" or even take "severe action"; Trump again publicly discussed purchasing or controlling Greenland; additionally, the Russia-Ukraine conflict continues. Market demand for safe-haven assets is rising.
On January 12, spot gold briefly exceeded USD 4,600 per ounce during intraday trading, reaching a new all-time high; spot silver surged nearly 5%, surpassing USD 84 per ounce, also setting a record high. CITIC Securities believes that looking ahead to 2026, the likelihood of further gold price increases remains strong, primarily driven by expectations of dual monetary and fiscal easing in the United States and persistent stagflation pressures in the U.S. economy, which are unlikely to dissipate quickly. Under a neutral scenario, the model forecasts that international gold prices could exceed USD 5,100 per ounce by the end of 2026.
