On July 8, China Gold International rose 3.22% in regular trading, trading at HK$143.4/share, with turnover of HK$55.643 million.

On the news front, China's central bank reported gold reserves of 75.44 million ounces at end of June, marking the 20th consecutive month of increases. Monthly additions have accelerated since February, with February-June additions of 3, 16, 26, 32, and 48 million ounces respectively. CITIC Securities noted that gold stocks are severely oversold following recent geopolitical-driven corrections, with strong safety margins in both PE and resource valuation. The firm forecasts Q3 gold prices in the range of US$4,000-4,500/oz. Huafu Securities stated gold has entered a strike zone with deep pullbacks enhancing allocation value. Meanwhile, the company recently announced its Jiama copper-gold polymetallic mine proved resource increased to 623 million tonnes, a 523% expansion, with proved reserves growing 1,170%, providing sustained fundamental support.

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