Zhi Tong Cai Jing·2026-01-22 02:22Group 1 - Gold stocks experienced significant declines, with Chifeng Jilong Gold Mining (06693) down 4.32% to HKD 35.42, Lingbao Gold Company (03330) down 3.65% to HKD 23.78, Tongguan Gold (00340) down 3.17% to HKD 3.36, and Zijin Mining (02899) down 3.47% to HKD 39.5 [1] - The decline in gold prices is attributed to a easing of risk aversion, leading to a high-level correction in precious metal prices. On January 22, spot gold and silver prices both fell, with spot gold dropping below USD 4780 per ounce and spot silver reaching a low of USD 90.781 per ounce [1] - According to CITIC Securities, in the short term, the U.S. AI sector is expected to continue growing until 2026, leading to a brief period of capital expenditure expansion globally. It is anticipated that gold prices may be weaker in 2026 compared to 2025, while copper is expected to perform well [1]