Gold-related equities opened collectively higher during the morning trading session. At the time of writing, CHINAGOLDINTL (02099) rose 3.94% to HK$198; ZIJIN MINING (02899) increased 2.95% to HK$43.9; ZHAOJIN MINING (01818) advanced 2.56% to HK$32; and WANGUO GOLD GP (03939) gained 2.47% to HK$16.98. The upward movement comes amid escalating tensions in the Middle East. Reports indicate that former President Trump is inclined to authorize a first-round strike against Iran in the coming days. Should the initial strike prove ineffective, a larger-scale assault may be considered. Satellite imagery shows a significant increase in U.S. fighter jets deployed in the region. Both gold and silver prices climbed during the session. Spot gold broke above $5,150 per ounce, rising 1.20%, while spot silver extended intraday gains to 2.86%. In addition, several major financial institutions have raised their gold price targets. ANZ forecasts gold reaching $5,800 per ounce in the second quarter of this year; Jefferies has lifted its 2026 gold price projection from $4,200 to $5,000; UBS believes gold could peak at $6,200 per ounce by mid-year, supported by central bank and investment demand, widening fiscal deficits, declining U.S. real interest rates, and geopolitical risks.