Changes in Hong Kong stocks | The collective recovery of gold stocks, spot gold returns to 4,170 US dollars, and central bank purchases continue to support the price of gold

The Zhitong Finance App learned that gold stocks are recovering collectively. As of press release, Chifeng Gold (06693) rose 5.08% to HK$35.60; Zijin Gold International (02259) rose 5.29% to HK$143.4; Shandong Gold (01787) rose 4.67% to HK$19.28; Zhaojin Mining (01818) rose 4.44% to HK$17.88; Zijin Mining (02899) rose 4.03% to HK$342.5.

According to the news, Trump said he would not attack Iran before the election, oil prices soared and fell, the US dollar index fell back, and the gold price rebounded. As of press release, spot gold was reported at 4,177 US dollars/ounce, up more than 1% during the day. It is worth mentioning that the central bank's purchase of funds continues to support the price of gold. According to data from the State Administration of Foreign Exchange on October 7, as of the end of September, China's gold reserves were 77.47 million ounces, an increase of 740,000 ounces over the previous month, increasing its holdings for the 23rd consecutive month, and the increase in holdings in that month was the highest since the current round of gold purchases was restarted. According to Goldman Sachs research, central banks around the world continue to buy gold strongly. This trend is supporting the upward trend in gold prices and providing a basis for their target price of 4,900 US dollars/ounce by the end of 2026.