Gold-related equities showed a collective recovery in Hong Kong trading. At the time of writing, CHIFENG GOLD (06693) rose by more than 5%, reaching HK$37.04. LINGBAO GOLD (03330) advanced over 4% to HK$25.18. ZHAOJIN MINING (01818) increased by nearly 4%, trading at HK$30.72. SD GOLD (01787) climbed more than 3% to HK$31.16.

The upward movement follows a rise in gold and silver prices during trading on March 27. Spot gold broke through $4,460 per ounce, gaining nearly 2% intraday, while spot silver briefly surpassed $70 per ounce.

This price strength comes after an announcement that planned strikes on Iranian energy infrastructure have been postponed for ten days, rescheduled for 8:00 PM Eastern Time on April 6. Additionally, recent reports indicate that Iran has permitted certain Malaysian oil tankers to pass through the Strait of Hormuz. These developments have alleviated concerns about potential energy supply disruptions resulting from conflict with Iran.