China Gold International (02099) jumped over 3%, hitting a historical high of HK$134.8. As of press time, the stock was up 3.7% to HK$134.6 with trading volume of HK$362 million.

On the news front, interest rate cut expectations have continued to intensify recently. The overnight release of US PPI data fell short of expectations, further supporting the case for Federal Reserve rate cuts. Following the data release, traders increased their bets on a 50 basis point rate cut by the Fed in September. Additionally, on September 10 local time, US President Trump posted on his social media platform "Truth Social" once again criticizing Fed Chairman Powell and urging immediate substantial rate cuts. Currently, the market awaits tonight's US August CPI data for guidance.

Industrial Securities previously indicated that with Fed rate cut expectations heating up, they remain optimistic about the upward shift in gold and copper price centers over the medium to long term. The Changshan Hao gold mine has returned to stable production, while the Jiama mine plans to commission its third-phase tailings facility in the first half of 2027 and is working to increase its mining permit capacity. Production is expected to recover to pre-tailings overflow levels by then.

China Merchants Securities also noted that the Jiama mine has significant future expansion potential. Furthermore, the company is conducting exploration work at two exploration areas - Bayi Ranch and Zegulang North - which have already demonstrated substantial resource potential and are expected to support larger-scale expansion in the future.