Group 1 - Goldman Sachs raised its gold price forecast for 2026 to 2027 by 10% to 16%, with an average price of $4,978 per ounce in 2026 and $5,585 per ounce in the first half of 2027 [1] - The firm also increased its copper price forecast for 2026 by 7% to $12,200 per ton [1] - As a result, the earnings forecasts for covered Chinese copper and gold mining stocks for 2026 to 2027 were raised by 9% to 33%, with Zijin Mining (02899) and Luoyang Molybdenum (03993) being the preferred stocks due to their benefits from rising commodity prices and simultaneous growth in copper and gold production [1] Group 2 - Zijin Mining and Luoyang Molybdenum are expected to see copper production growth of 9% to 14% in 2026, with both companies on track to meet their 2028 production targets, indicating a production increase of 40% to 45% compared to 2025 [1] - The accelerated acquisition of gold assets in a rising gold price environment presents an upside risk to profitability [1] - Zijin Mining's recurring earnings forecast for 2026 to 2027 was raised by 14% to 18%, with target prices adjusted to HKD 52 for H-shares and RMB 50 for A-shares, maintaining a "Buy" rating [1] - Luoyang Molybdenum's recurring earnings forecast for 2026 to 2027 was increased by 20% to 24%, with target prices adjusted to HKD 27 for H-shares and RMB 28 for A-shares, also maintaining a "Buy" rating [2]