DRAGON MINING (01712) surged over 15% during trading. As of press time, the stock climbed 18.43% to HK$6.49, with turnover reaching HK$44.46 million.

On the news front, DRAGON MINING announced its results for the first half of 2025, reporting customer revenue of AU$54.46 million, representing a 77.52% year-on-year increase. Net profit reached AU$12.692 million, surging 543.94% compared to the same period last year. Basic and diluted earnings per share stood at 8.03 AU cents.

According to the company's announcement, the profit increase was primarily attributed to the following factors: increased gold grade and recovery rates during the period led to the Vammala plant producing 13,475 ounces of gold; higher average gold prices during the period; and positive contributions from toll processing of gold-bearing ore from neighboring Swedish operator Botnia Exploration AB.

State Street Global Advisors noted that gold has continued its strong performance this year, outpacing other USD-denominated asset classes due to numerous potential economic outcomes that are difficult to predict. Should gold prices maintain their recent upward momentum following the Federal Reserve's September meeting, the firm expects to raise the probability of its long-term optimistic scenario range (USD 3,500-3,900) from 30% to 40% in October.

Additionally, State Street Global Advisors maintains a floor price of USD 3,100 for gold under its base case scenario and believes there is a high possibility of gold rising another USD 500 within the next 6-12 months.