Chifeng Gold's stock surged 7.79% during the morning trading session on Monday, outperforming the broader market as gold-related stocks extended their recent rally.

The sharp rise comes as gold prices surged to a record high above $5,000 per ounce, extending a historic rally driven by investors piling into the safe-haven asset amid rising geopolitical tensions. The precious metal has been supported by sustained safe-haven demand, U.S. monetary policy easing, robust central bank purchases, and record inflows into exchange-traded funds.

China has extended its gold-buying spree for a fourteenth consecutive month in December, adding to the bullish sentiment for gold miners like Chifeng Gold. The company's stock movement reflects the broader sector trend where multiple gold stocks posted significant gains during the session.