Gold and silver prices continued to hit new highs, with spot gold approaching the $5,000 per ounce mark, currently trading at $4,944.08. February gold futures in New York are up 0.7% to $4,948.10. Spot silver also reached a new high, rising 2.6% to $98.64 per ounce, while March silver futures gained 2.3% to $98.58.
The surge in gold prices has fueled market expectations of price increases for gold-based products, benefiting some jewelry stocks. Laopu Gold (06181.HK) opened 2.4% higher this morning (23rd) and extended gains to rise as much as 8.9%, reaching HK$803.5, its highest level in over three months. It is currently trading at HK$788.5, up 6.84%, with active trading volume reaching 1.4829 million shares, amounting to HK$1.172 billion in turnover.
Luk Fook (00590.HK), which has been on a rapid upward trend in recent days, reached a high of HK$33 during trading, its highest point in over seven and a half years. It is currently trading at HK$32.28, up 0.25%, with a trading volume of 847,000 shares, totaling HK$27.5464 million in turnover. Chow Sang Sang (00116.HK) is now trading at HK$14.27, up 0.92%, with a trading volume of 746,000 shares, amounting to HK$10.6308 million in turnover. Zhou Liu Fu (06168.HK) is currently at HK$28.18, up 1.15%, with a turnover of HK$12.2116 million.
Chow Tai Fook (01929.HK) opened higher but softened afterwards, currently trading at HK$13.94, down 1.27% against the broader market trend, with a turnover of HK$71.6928 million.
The Hang Seng Index is currently at 26,703 points, up 73 points or 0.3%, with a total turnover of HK$120.564 billion.
