Financial Associated Press, April 23 (Editor Hu Jiarong) affected by the adjustment of international gold prices247videopokerToday, most Hong Kong gold stocks fell. As of press time, China Gold International (02099247videopoker.HK), Lingbao Gold (03330.HK), Zhaojin Mining (01818.HK), Shandong Gold (01787.HK) and Zijin Mining (02899.HK) fell 4.27%, 3.54%, 2.61%, 2.26% and 0.95%, respectively.

Note: the performance of gold stocks

As of press time, COMEX gold futures fell nearly 0.81% to $2327.8 an ounce.

Note: recent trend of COMEX gold futures

In fact, COMEX gold futures have long been in decline. The variety fell from $2403.4 at the start of trading on the 22nd to around $2300 today.

Affected by this news, Hong Kong stocks related stocks have been adjusted to varying degrees.

Why did the previous surge in gold stocks suddenly brake?

For the gold pullback, it is related to the following aspects. For example, the frontal dispute between Israel and Iran turned towards convergence over the weekend, superimposed profit selling pressure, and Fed officials who have been cracking down on expectations of interest rate cuts over the past few weeks have entered a "period of silence". It makes sense that gold has fallen more or less sharply.

As a horizontal reference, the S & P 500 index rose more than 1% on Monday, the first time the index has risen since April 11; the silver period with greater amplitude and spot Monday fell nearly 5%, and international oil prices are also falling in the direction of ups and downs, confirming the moderation of the Middle East problem.

In the long run, however, there is still a pricing support. Central banks have continued to increase their gold holdings over the past few years, with central banks' gold reserves increasing by 2100 tons in 2022 and 2023 alone. By contrast, central banks around the world have increased their gold holdings by 7800 tonnes over the past 14 years.

Zijin Mining Q1 net profit increased by more than 15% compared with the same period last year

Although gold stocks are affected by price adjustments, there are still some positive news from gold stocks. For example, Zijin Mining released first-quarter operating data this morning, including operating income of 74.777 billion yuan, down 0.22% from the same period last year, and net profit of 6.261 billion yuan, up 15% from the same period last year.

Note: the first quarter results of Zijin Mining

Shouchuang Securities previously pointed out that Zijin Mining's main mineral copper and gold resources and production capacity ranks first in China, the top 10 in the world, and ranks fifth in mineral copper production in 2023. At the same time, a number of incremental projects are carried out in parallel and orderly to create the sustainable growth of the company.

In terms of copper, the three major bases of the Democratic Republic of the Congo, Xizang of China and Serbia are implementing large-scale technological transformation plans to expand production, and the new production capacity of the existing projects is expected to exceed 500000 tons in the next 3-5 years. In terms of gold, the company has formed a number of main gold mines in Central Asia, South America, Oceania and China, helping to increase gold production year by year.