HK Stock Market Move | WANGUO GOLD GP(03939) rose more than 8% at the close International gold prices resume their rise Institutional investors are optimistic about the company's continued growth in gold production.

WANGUO GOLD GP (03939) rose more than 8% at the close, rising by 7.92% to HK$15.8 at the time of writing, with a turnover of HK$60.76 million. On the news front, the gold price has recently resumed its upward trend. On April 9th, spot gold surged by 2% to $3044.51 per ounce. Dongwu Futures pointed out that under the impact of tariffs, investors have been selling gold to offset the liquidity crisis caused by the sharp decline in other assets, dragging down the gold price. However, the short-term correction in the gold price does not affect the bullish logic for gold, with global trade tensions escalating and geopolitical factors driving expectations for a long-term upward trend in gold prices. Goldman Sachs analysts maintain their forecast that the gold price will exceed $3300 per ounce by the end of the year; macroeconomic risks, low investor positions, government tariffs, demand from emerging market central banks, and inflows into gold ETFs will support the gold price. Minsheng Securities pointed out that by the end of 2024, the resource reserves of the Jinling Gold Mine have increased to 232 tons, and there may still be further potential for reserves growth in the future. Estimating based on a mine life cycle of around 20 years, the annual production of the Jinling Gold Mine in the future may exceed 10 tons, with ample room for growth. The bank believes that the company has broad growth potential in the future, with the mining operations returning to normal, the ore dressing process gradually improving, the expected acceleration in production capacity ramp-up, and the potential for further expansion in the future, combined with the bullish gold price outlook. They are optimistic about the company's continuous growth in gold production in the future, expecting both volume and price to rise together.