Gold stocks maintain upward momentum

Shares of gold-related companies continued their rise in morning trading. Lingbao Gold Co Ltd (03330) increased by 7.29% to HKD 19.58, Chifeng Jilong Gold Mining Co Ltd (06693) gained 7.36% to HKD 35.02, Shandong Gold Mining Co Ltd (01787) rose 4.99% to HKD 20.82, and Zhaojin Mining Industry Co Ltd (01818) advanced 4.46% to HKD 22.00.

The Japanese government is suspected of intervening in the foreign exchange market again, which weakened the US dollar and helped gold prices bounce back. Meanwhile, the Federal Reserve's decision to hold interest rates steady has triggered sharp divergence in the bond market: short-term yields plunged, signaling a recession warning, while long-term yields surged, exposing sovereign credit concerns. Analysts suggest that the global debt crisis remains unresolved, and the medium-to-long-term upward logic for gold and silver as ultimate safe-haven assets remains intact. Zhongtai Securities previously noted that gold mining stocks tend to show greater price swings compared to the underlying metal.