Changes in Hong Kong stocks | Gold stocks are once again rising, and US bond repurchases boost precious metals, and Beisent's single repurchase may exceed US$4 billion

The Zhitong Finance App learned that gold stocks rose again. As of press release, Chifeng Gold (06693) rose 8.92% to HK$44.44; Shandong Gold (01787) rose 7.59% to HK$27.2; Lingbao Gold (03330) rose 6.34% to HK$24.84; Zijin Gold International (02259) rose 4.86% to HK$155.5; China Gold International (02099) rose 4.78% to HK$258.8.

According to the news, US Treasury Secretary Bessent is intensively releasing policy signals. At a time when US long-term treasury yields are rising again, Bessent said that the Treasury's single long-term bond repurchase scale may exceed 4 billion US dollars, and emphasized that the Treasury has a strong toolbox. CICC believes that the Ministry of Finance is increasing repurchases of US bonds; on the one hand, it is increasing long-term US bond purchases and improving market liquidity; on the other hand, it weakens the reputation of US bonds and the US dollar. Gold is the most direct beneficiary asset.

Furthermore, CITIC Futures said that in the short term, it is inappropriate to directly extrapolate the one-time repurchase impact to trend easing. The next key is whether the decline in long-term yield can continue and whether capital inflows can spread further. If yields rise again, gold may rebound in profits after a sharp rise; medium-term fiscal expansion and debt constraints still support the allocation value of gold.