Shares of gold-related companies are moving higher in a collective rally. As of the latest trading, Zijin Gold International (02259) rose 5.41% to HKD 134.4, Zhaojin Mining (01818) gained 4.41% to HKD 23.68, Shandong Gold (01787) increased 4.39% to HKD 22.34, Lingbao Gold (03330) climbed 4.2% to HKD 22.32, and China Gold International (02099) rose 3.36% to HKD 221.8.

On the news front, spot gold prices are rallying today, climbing back above the $4,400 mark. Recent U.S. CPI and PPI inflation data for the past week showed a moderate easing of inflationary pressures. Coupled with a surprising decline in U.S. July retail sales and falling oil prices, market expectations for the Federal Reserve to raise interest rates again have significantly diminished. Concurrently, the global central bank gold-buying trend continues, with net purchases in the second quarter surging 62% year-over-year, setting a new historical record for any second quarter.

A research report from Deutsche Bank indicates that the fifth "explosive" rally phase for gold, which began in 2024, is still ongoing. Support from central bank purchases and ETF inflows creates dual inelastic demand. The bank's year-end price target range is $4,700 to $5,100 per ounce. Additionally, the latest interim report from Zijin Gold International shows that in the first half of this year, the company's gold production reached approximately 27.3 tons, a 44% increase year-over-year. Revenue was about $3.987 billion, up 100%, while profit attributable to the parent company's shareholders was roughly $1.451 billion, a substantial 179% increase.