HK Stock Market Move | CHINAGOLDINTL(02099) rises over 5%, company's first quarter report to be disclosed soon, Jiamak mineral resources have huge storage space.

CHINAGOLDINTL (02099) rose more than 5%, as of the time of drafting, it has risen by 5.36% to HK$53.1, with a turnover of HK$94.1587 million. On the news front, CHINAGOLDINTL previously announced that it will hold a board meeting on May 15 (next Thursday) to review and approve the first quarter performance of the company and its subsidiaries for the three months ending March 31, 2025. FIRST SHANGHAI previously indicated that the Jiamar mineral resource has huge storage space, and the exploration projects in Zegulang North and Bayi Ranch are progressing in an orderly manner. It is expected that a new exploration report will be issued in 2026, and the resource reserves are expected to be significantly increased, laying a solid foundation for the company's future production and efficiency improvement. The company's overall valuation is currently low in the copper and gold sector, with still significant room for recovery. Hongyuan Futures believes that the expected interest rate cuts and fiscal loosening by central banks in multiple countries globally, combined with ongoing central bank gold purchases and unresolved geopolitical conflicts, may make precious metal prices more likely to rise than fall. Goldman Sachs reiterated its structurally bullish view on gold, with a base expectation of a gold price of $3,700 per ounce by the end of the year, reaching $4,000 by mid-2026.