Core Viewpoint - Gold stocks experienced a significant decline today, with major companies reporting substantial drops in their share prices due to a sharp decrease in spot gold prices [1] Group 1: Company Performance - China Gold International (02099) fell by 8.15%, closing at 115 HKD [1] - Tongguan Gold (00340) decreased by 8.04%, ending at 2.06 HKD [1] - Lingbao Gold (03330) dropped by 6.95%, with a closing price of 15.4 HKD [1] - Chifeng Jilong Gold Mining (600988) (06693) saw a decline of 6.11%, closing at 26.76 HKD [1] Group 2: Market Trends - On September 4, spot gold prices plummeted, briefly falling below the 3520 USD mark, with the latest price reported at 3531.89 USD/ounce, reflecting a daily drop of 0.77% [1] - COMEX gold futures were reported at 3588.3 USD/ounce, showing a decline of over 1% for the day [1] - Baocheng Futures noted an accelerated upward trend in precious metals since last Friday, driven by weakening performance in both domestic and international equity markets, which has increased market demand for safe-haven assets [1] Group 3: Economic Indicators - Current market focus is on the U.S. non-farm payroll data for August, which is expected to have a significant impact on the Federal Reserve's interest rate decisions in September [1]

Group 1 - The Hong Kong gold stocks experienced a high opening but subsequently declined, with notable drops including Tongguan Gold down 8%, China Gold International down over 5%, and Lingbao Gold down 4.4% [1][2] - Recent spot gold prices reached new highs, but there was a slight decline of 0.27% in early Asian trading, falling below $3,550 per ounce [2] - Analysts indicate that after reaching new highs, the risk of a short-term technical correction in gold stocks has significantly increased, urging investors to remain vigilant [2][3] Group 2 - Many gold companies' stock prices have risen far beyond their net profit growth rates, leading to historically high valuation metrics such as P/E ratios, suggesting signs of a bubble [3] - High valuations necessitate either a stock price correction or earnings growth to be absorbed, increasing short-term risks [3] - The long-term drivers for gold prices, including central bank purchases, de-dollarization, and geopolitical risks, remain strong, indicating a future dynamic between short-term volatility and long-term trends [3]

Core Viewpoint - The Hong Kong gold stocks have shown a trend of high opening and low closing, with significant declines in various companies' stock prices, indicating a potential short-term technical correction after recent highs in the gold market [1] Group 1: Market Performance - Recent performance of gold stocks includes notable declines: Tongguan Gold down 8%, China Gold International down over 5%, Lingbao Gold down 4.4%, and others experiencing declines of over 3% [1] - The latest prices for key gold stocks are as follows: Tongguan Gold at 2.060, China Gold International at 118.800, and Lingbao Gold at 15.820 [1] Group 2: Market Analysis - The spot gold market has recently reached new highs, but there was a drop of 0.27% today, falling below 3550 USD/ounce [1] - Analysts suggest that the rapid increase in gold stock prices has outpaced the growth in net profits, leading to historically high valuation metrics such as P/E ratios, indicating potential bubble-like conditions [1] - The long-term drivers for gold prices, including central bank purchases, de-dollarization, and geopolitical risks, remain strong, suggesting a battle between short-term volatility and long-term trends [1]

| 代码 | 名称 | 涨跌幅 √ | 最新价 | 总市值 | | --- | --- | --- | --- | --- | | 00340 | 潼关黄金 | 5.24% | 2.410 | 105.98亿 | | 06693 | 赤峰黄金 | 5.08% | 29.400 | 558.72 Z | | 01818 | 招金矿业 | 4.40% | 28.000 | 991.87亿 | | 02099 | 中国黄金国际 | 4.19% | 129.300 | 512.56亿 | | 00815 | 中国白银集团 | 3.92% | 0.530 | 12.41亿 | | 01787 | 山东黄金 | 3.63% | 32.000 | 1431.5亿 | | 01815 | 珠峰黄金 | 3.53% | 1.760 | 21.79亿 | | 03330 | 灵宝黄金 | 3.53% | 16.150 | 207.85亿 | | 02899 | 紫金矿业 | 2.58% | 27.800 | 7388.57亿 | 金价新高不断，港股黄金股集体高开。其中，潼关黄金、赤峰黄金涨超5%，招金矿业、中国黄金国际 涨超4% ...

Core Viewpoint - The gold stocks have collectively opened higher, driven by increased safe-haven sentiment and rising expectations for interest rate cuts by the Federal Reserve, as international gold prices hit a new historical high [1] Group 1: Gold Stock Performance - Tongguan Gold (00340) rose by 5.24%, trading at HKD 2.41 [1] - Chifeng Gold (06693) increased by 5.08%, trading at HKD 29.4 [1] - Zhaojin Mining (01818) gained 4.4%, trading at HKD 28 [1] - China Gold International (02099) rose by 4.19%, trading at HKD 129.3 [1] - Shandong Gold (01787) increased by 3.63%, trading at HKD 32 [1] - Lingbao Gold (03330) rose by 3.53%, trading at HKD 16.15 [1] Group 2: Market Influences - International gold prices reached a new high, with New York futures gold surpassing USD 3600 per ounce and spot gold rising for six consecutive days, breaking the USD 3540 mark [1] - Weak U.S. economic data and negative evidence regarding Federal Reserve Governor Cook have increased market expectations for future monetary easing, supporting precious metal prices [1] Group 3: Upcoming Economic Indicators - The market is awaiting the upcoming non-farm payroll data, which is crucial for the Federal Reserve's September interest rate decision [1] - Morgan Stanley's latest report has set a year-end target price for gold at USD 3800 per ounce, emphasizing the strong negative correlation between gold and the U.S. dollar as a key pricing logic [1] - A continued depreciation of the dollar index is expected to directly benefit precious metals priced in dollars [1]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年8月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 潼關黃金集團有限公司 呈交日期: 2025年9月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00340 | 說明 | 普通股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 46,223,810,000 | HKD | | 0.1 | HKD | | 4,622,381,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 46,223,810,000 | HKD | | | 0.1 HKD | | 4,622,381,000 | ...

Group 1 - The Hong Kong stock market's gold stocks are performing strongly, with China Silver Group leading with an 8.5% increase, followed by Zhaojin Mining at 7.3%, both reaching historical highs [1] - The strong momentum in spot silver prices is approaching $40 per ounce, which is expected to be breached soon [1] - The market is preparing for significant events in the next 14 trading days, including important U.S. data releases and the Federal Open Market Committee (FOMC) meeting [1] Group 2 - The prevailing strength in gold prices is primarily driven by the market's increasing belief that the Federal Reserve will soon resume interest rate cuts, alongside risks to the Fed's independence [1] - The market anticipates that the Federal Reserve may cut rates once or even twice this year, providing overall support for commodity prices, including gold and silver [1] - Several international financial institutions are bullish on gold prices, with UBS raising its target for gold prices to $3,700 per ounce by mid-2026, while Bank of America analysts predict prices could reach $4,000 per ounce by the same timeframe [1] Group 3 - The latest price movements of key gold stocks include: - China Silver Group at 0.510 with an increase of 8.51% - Zhaojin Mining at 25.860 with an increase of 7.30% - Shandong Gold at 31.240 with an increase of 6.40% - Lingbao Gold at 15.070 with an increase of 6.20% - China Gold International at 115.200 with an increase of 5.30% [2]

消息上，现货白银的强劲涨势已使其逼近每盎司40美元，这一价位可能很快就会被突破。市场正为接下 来14个交易日的密集事件做准备，届时将有重要的美国数据公布，还有联邦公开市场委员会(FOMC)会 议。黄金的强势仍是主要推动力，这得益于市场愈发坚定地认为美联储即将重启降息，再加上美联储独 立性面临的风险。 港股黄金股持续走强，其中，中国白银集团大涨8.5%领衔，招金矿业涨7.3%再度刷新历史新高，山东 黄金、灵宝黄金、中国黄金国际、紫金矿业亦刷新历史高位。 | 代码 | 名称 | 最新价 | 涨跌幅 √ | | --- | --- | --- | --- | | 00815 | 中国白银集团 | 0.510 | 8.51% | | 01818 | 招金矿业 | 25.860 | 7.30% | | 01787 | 山东黄金 | 31.240 | 6.40% | | 03330 | 灵宝黄金 | 15.070 | 6.20% | | 02099 | 中国黄金国际 | 115.200 | 5.30% | | 06693 | 赤峰黄金 | 27.540 | 5.44% | | 02899 | 三十四年薪 | 26.540 ...

Group 1: Silver Market Insights - The strong upward trend in spot silver prices is approaching $40 per ounce, with a potential breakout imminent [1] - Industrial demand for silver, particularly from solar panel applications, is supporting its price, leading to increased investments in silver-backed exchange-traded funds (ETFs) [1] - August marked the seventh consecutive month of expansion for these silver ETFs, the longest continuous inflow since 2020 [1] Group 2: Gold Market Insights - Gold remains a key hedge against short-term global policy fluctuations and growing skepticism regarding the Federal Reserve's credibility [1] - Morgan Stanley predicts that gold prices could reach $3,675 per ounce by the end of the year, with a potential rise to $4,000 per ounce by early next year [1] - The independence of the Federal Reserve is under threat, particularly following President Trump's attempt to remove a Fed governor, which could act as a strong bullish catalyst for gold prices [1] Group 3: Related Companies in Gold and Silver - Key companies in the gold industry include Zijin Mining (601899)(02899), Shandong Gold (600547)(01787), and Zhaojin Mining (01818) [2] - In the silver sector, China Silver Group (00815) reported a revenue of RMB 2.33 billion for the six months ending June 30, 2025, a year-on-year increase of 0.5%, with a profit attributable to shareholders of RMB 54.91 million, up 167.13% [3]

Group 1: Silver Market Insights - The strong upward trend in spot silver prices is approaching $40 per ounce, with a potential breakthrough imminent [1] - Industrial demand for silver, particularly from solar panel applications, is supporting its price, leading to increased investments in silver-backed exchange-traded funds (ETFs) [1] - In August, silver-backed ETFs experienced their longest continuous inflow since 2020, marking the seventh consecutive month of expansion [1] Group 2: Gold Market Insights - Gold remains a key hedge against short-term global policy volatility and growing skepticism regarding the Federal Reserve's credibility [1] - JPMorgan forecasts that gold prices could reach $3,675 per ounce by the end of the year, with a potential rise to $4,000 per ounce by early next year [1] - The independence of the Federal Reserve is under threat, particularly following President Trump's attempt to remove a Fed governor, which could act as a strong bullish catalyst for gold prices [1] Group 3: Related Companies in the Gold Industry - Key companies in the gold industry include Zijin Mining (02899), Shandong Gold (01787), Zhaojin Mining (01818), and others [2] Group 4: Related Companies in the Silver Industry - China Silver Group (00815) reported a revenue of RMB 2.33 billion for the six months ending June 30, 2025, a year-on-year increase of 0.5%, with a profit attributable to owners of RMB 54.91 million, up 167.13% [3]