Group 1 - The current fundamentals of the gold sector are more robust compared to previous cycles, according to SG Hiscock's portfolio manager Phillip Li [1] - The core rationale for the continued overweight in gold mining stocks is that the market has not fully recognized the significant increase in free cash flow for companies due to current gold prices [1] - Mining companies are becoming more prudent in capital allocation, influenced by lessons learned from past boom-bust cycles and the misalignment between fundamentals and market valuations [1] Group 2 - The recent surge in gold prices to historical highs is driven by three main factors: ongoing diversification of central bank reserves, rising demand for assets outside the fiat currency system, and strong support from the real interest rate environment [1] - There is a possibility of a pullback given the recent strong price increases [1]
机构：市场低估金矿股盈利能力 黄金板块基本面走强
Ge Long Hui·2026-01-14 03:46