热门板块方面 盘面上，大型科技股涨跌互现，阿里巴巴涨1.89%，百度涨0.81%。以太币创2021年来新高，比特币再 度突破12万美元，加密货币相关概念股大涨；宁德时代（300750）江西锂矿确认停产，"锂矿双雄"放量 走强；重大项目持续推进，水泥股继续活跃；苹果概念、纸业股、奶牛养殖标的等走高。另一边，黄金 关税乌龙引发金价波动，黄金股集体下挫；博彩股、餐饮股、芯片股多数疲软。 港股今三大指数今日走势不一，恒指早盘探底回升，国指及恒科指午后均震荡转跌。截止收盘，恒生指 数涨0.19%或47.99点，报24906.81点，全日成交额为2009.02亿港元；恒生国企指数跌0.08%，报8888.08 点；恒生科技指数跌0.01%，报5460.02点。 东吴证券表示，对港股持谨慎乐观态度，认为港股还处在震荡向上趋势中，下行有底。继续关注潜在增 配资金风偏。该行认为，南向资金还有提高仓位潜力；市场持续关注红利，自下而上寻找景气行业；尽 管市场明显提高了美联储降息的预期，促进股票市场反弹，但不能忽视对等关税或有风险；中长期看， 依旧担心海外上行风险。 蓝筹股表现 比亚迪（002594）电子(00285)领涨蓝筹。截至 ...

Core Viewpoint - Gold stocks experienced a decline in early trading, with notable drops in major companies such as Chifeng Jilong Gold Mining, Shandong Gold Mining, China National Gold Group, and Zijin Mining [1] Group 1: Market Performance - Chifeng Jilong Gold Mining (06693) fell by 4.92%, trading at HKD 25.52 [1] - Shandong Gold Mining (01787) decreased by 4.5%, trading at HKD 28.46 [1] - China National Gold Group (02099) dropped by 3.15%, trading at HKD 73.9 [1] - Zijin Mining (02899) saw a smaller decline of 0.69%, trading at HKD 22.9 [1] Group 2: Gold Reserves and Market Trends - As of the end of July, China's gold reserves reached 73.96 million ounces, an increase of 60,000 ounces month-on-month, marking nine consecutive months of growth [1] - The World Gold Council reported a net increase of 22 tons in global official gold reserves by June 2025, with a slight month-on-month rise for three consecutive months [1] - In the first half of 2025, global central bank net gold purchases totaled 123 tons, showing a slight decrease compared to the same period in 2024 [1] Group 3: Investment Insights - According to a report from China Merchants Securities, the short-term upward momentum for gold prices is weakening, suggesting caution against overheating risks [1] - The report emphasizes the importance of focusing on structural opportunities rather than broadly betting on gold price increases [1] - Dongzheng Futures noted that market expectations for future Federal Reserve interest rate cuts have increased, which is already reflected in gold prices [1]

黄金股早盘走低，截至发稿，赤峰黄金(06693)跌4.92%，报25.52港元；山东黄金(01787)跌4.5%，报 28.46港元；中国黄金国际(02099)跌3.15%，报73.9港元；紫金矿业(02899)跌0.69%，报22.9港元。 消息面上，8月7日，中国人民银行数据显示，7月末黄金储备达7396万盎司，环比增加6万盎司，已连续 9个月增持。世界黄金协会发布的数据显示，2025年6月，全球官方黄金储备净增22吨，已连续第三个月 环比小幅上升。2025年上半年全球央行净购金量达123吨，较2024年同期小幅下降。 招商证券8月初发布研报称，金价短期上涨动力减弱。 虽然黄金具备配置价值，但在短期维度，上涨动 能不足，需警惕局部过热风险。该机构建议投资者，关注结构性机会，而非全面押注黄金上涨。东证期 货指出，市场对未来美联储降息的预期增加，但也基本反映在了金价中。 ...

Group 1 - The core viewpoint of the article indicates that gold stocks in Hong Kong have collectively declined, with notable drops in companies such as Chifeng Jilong Gold Mining and Shandong Gold Mining, reflecting a broader trend in the market [1][2]. - Chifeng Jilong Gold Mining's stock price fell by 5.22% to 25.440, while Shandong Gold Mining decreased by 4.16% to 28.560. Other companies like Zhaoguan Gold and China Silver Group also experienced declines exceeding 3% [2]. - The spot gold price in Asia initially dropped, falling below $3,370 per ounce, with a daily decrease of 0.8%, currently reported at $3,369.38 per ounce [2]. Group 2 - Analysts suggest that gold stocks are highly correlated with spot gold prices, and potential increases in Federal Reserve interest rate expectations, a stronger US dollar, or easing inflation could pressure gold prices, negatively impacting gold stocks [3]. - The investment logic for gold stocks is shifting from focusing on short-term production growth to emphasizing companies with larger reserves, highlighting the value of gold companies with more substantial reserves [2].

Core Viewpoint - Gold stocks in Hong Kong experienced a decline in early trading, attributed to a slowdown in global central bank gold purchases, leading to reduced short-term upward momentum for gold prices [1] Group 1: Market Performance - As of the report, Chifeng Jilong Gold Mining (06693) fell by 4.92% to HKD 25.52, Shandong Gold Mining (01787) decreased by 4.5% to HKD 28.46, China Gold International (02099) dropped by 3.15% to HKD 73.9, and Zijin Mining (02899) declined by 0.69% to HKD 22.9 [1] Group 2: Central Bank Data - As of the end of July, the People's Bank of China reported gold reserves of 73.96 million ounces, an increase of 60,000 ounces month-on-month, marking nine consecutive months of accumulation [1] - The World Gold Council indicated that by June 2025, global official gold reserves net increased by 22 tons, reflecting a slight month-on-month rise for the third consecutive month [1] - In the first half of 2025, global central bank net gold purchases totaled 123 tons, showing a slight decrease compared to the same period in 2024 [1] Group 3: Analyst Insights - According to a report from China Merchants Securities, the short-term upward momentum for gold prices is weakening, suggesting that while gold has allocation value, caution is advised regarding potential overheating risks [1] - The report recommends that investors focus on structural opportunities rather than broadly betting on gold price increases [1] - Dongzheng Futures noted that market expectations for future Federal Reserve interest rate cuts have increased, but this has already been largely reflected in gold prices [1]

Group 1 - The article provides an overview of the investment activities of Hong Kong-listed companies on August 11, 2025, including new stock activities, earnings announcements, shareholder meetings, and dividend distributions [1] Group 2 - New stock activities include companies such as ZhiNuo Pharmaceutical-B (currently in the IPO process) and Zhonghui Biotechnology-B (listing date) [1] - Earnings announcements are scheduled for companies like Baosheng International, Yuanyuan Group, and Kang Shifu Holdings among others [1] - Shareholder meetings will be held for companies including Huatai Textile, Shandong Gold, and Sichuan Chengyu Expressway [1] - Dividend distributions are noted for companies like Jianbei Miao Miao and Kangnait Optical, with specific ex-dividend and payment dates mentioned [1]

Group 1 - Gold stocks continue to rise, with notable increases in companies such as Jihai Resources (+4.96%), Tongguan Gold (+4.1%), Shandong Gold (+2.9%), Zhaojin Mining (+2.83%), and Zijin Mining (+2.58%) [1] - As of the end of July, China's gold reserves reached 73.96 million ounces, an increase of 60,000 ounces from the end of June, marking the ninth consecutive month of gold accumulation [1] - Initial jobless claims in the U.S. exceeded market expectations, leading to increased short-term demand for safe-haven assets and driving up gold prices [1] Group 2 - CITIC Futures suggests that the recent poor non-farm payroll data and the reversal in U.S. stock markets indicate a potential end to the short-term resilience of the U.S. economy, shifting market focus back to weakening fundamentals and the restart of the rate-cutting cycle [2] - The acceleration of the Federal Reserve's leadership transition may alter expectations for interest rate paths next year and raise concerns about the Fed's independence, potentially amplifying price volatility [2] - The long-term bullish trend for gold remains intact, driven by a slowing U.S. economy under tariff pressures and the resumption of the rate-cutting cycle, with a contraction in U.S. dollar credit forming the foundation for a long-term bull market [2]

消息面上，8月7日，中国人民银行公布的数据显示，截至7月末，我国黄金储备规模7396万盎司，较6月 末增加6万盎司，为连续第9个月增持黄金。此外，周四晚间公布数据显示8月初美国初次申请失业金人 数超出市场预期，短线避险需求升温推动金价走高。值得关注的是，有消息称，美联储理事沃勒被特朗 普团队视作美联储主席的优先人选之一，而沃勒的降息意愿可能是其在特朗普眼中的加分项。 中信期货认为，随着非农数据的暴雷和美股的反转，美国经济短期韧性的交易短期或告一段落，市场重 回美国基本面走弱+降息周期重启的逻辑定价，黄金市场情绪将转向积极。此外，该行提示，美联储换 届节奏的加快，可能带来明年利率路径预期的改变和美联储独立性的忧虑，有望带来价格弹性的放大。 黄金中长期牛市趋势不变，关税路径下的美国基本面延续放缓及降息周期的重启带来中期驱动，美元信 用收缩构筑长期牛市基石。 黄金股延续近期涨势，截至发稿，集海资源(02489)涨4.96%，报1.48港元；潼关黄金(00340)涨4.1%，报 2.03港元；山东黄金（600547）(01787)涨2.9%，报29.78港元；招金矿业(01818)涨2.83%，报22.56港 元；紫 ...

港股黄金股普遍上涨，其中，赤峰黄金、潼关黄金涨4.6%，招金矿业、山东黄金涨超3%，灵宝黄金涨 2%，紫金矿业、中国黄金国际涨超1%。 消息上，现货黄金价格亚洲盘整，美国总统特朗普周四表示，将提名白宫经济顾问委员会主席米兰临时 出任美联储理事会成员，以填补空缺。澳新银行分析师在报告中称："米兰是特朗普关税政策的设计 者，市场认为这一任命意味着货币政策将更趋鸽派。"更多美联储降息的预期可能提升黄金的吸引力。 现货黄金当前基本持平，纽约期金亚盘初一度触及3534.10美元/盎司的历史新高，当前交投在3500美元/ 盎司附近。(格隆汇) | 代码 | 名称 | 最新价 | 涨跌幅 √ | | --- | --- | --- | --- | | 06693 | 赤峰黄金 | 27.740 | 4.68% | | 00340 | 潼关黄金 | 2.040 | 4.62% | | 02489 | 集海资源 | 1.460 | 3.55% | | 01818 | 招金矿业 | 22.680 | 3.37% | | 01787 | 山东黄金 | 29.860 | 3.18% | | 03330 | 灵宝黄金 | 11.480 ...

Group 1 - COMEX gold futures rose by $20.30, an increase of 0.59%, closing at $3453.7 per ounce [1] - The People's Bank of China increased its gold reserves in July for the ninth consecutive month, adding 60,000 ounces to reach 73.96 million ounces, totaling approximately 36 tons since November [1] - The Shanghai Futures Exchange's gold inventory has reached a historical high, with over 36 tons of gold bars registered for futures delivery, reflecting a significant increase in demand for gold [1] Group 2 - Traders and banks are capitalizing on the price difference by buying lower-priced gold in the spot market and delivering it to exchange warehouses, indicating strong demand for gold in China [2] - Citigroup has revised its bearish outlook on gold, predicting prices will rise to record highs due to deteriorating U.S. economic conditions and inflationary tariffs, with a forecast range of $3300 to $3600 per ounce in the next three months [2] - A report from China International Capital Corporation (CICC) highlights the weak U.S. non-farm payroll data and an 80.3% probability of a rate cut by August 3, suggesting a new round of rate cut trading may begin [2] Group 3 - Key Hong Kong-listed gold and precious metals companies include Zijin Mining (601899)(02899), Shandong Gold (600547)(01787), Zhaojin Mining (01818), Chifeng Jilong Gold (600988)(06693), Lingbao Gold (03330), China Gold International (600916)(02099), and others [3]