Precious metals stocks strengthened during the afternoon session on August 7, with 招金黄金 (000506.SZ) hitting the daily limit up, while 中金黄金 (600489.SH), 山金国际 (000975.SZ), 湖南白银 (002716.SZ), 晓程科技 (300139.SZ), and 湖南黄金 (002155.SZ) all followed with gains.

According to the latest report from the World Gold Council, global gold demand reached 2,522 tonnes in the first half of the year, up 2% year-on-year, marking a new all-time high valued at $380 billion. Central banks continued to purchase gold heavily in the second quarter, with total volumes reaching 288.9 tonnes. Although central bank gold buying slowed notably in the first quarter, it rebounded to levels not seen in the past four years during Q2, with purchases surging over 400% quarter-on-quarter.

The World Gold Council forecasts that investment demand will remain the primary driver of gold demand growth in the second half of the year, with this growth increasingly supported by over-the-counter trading activity and procurement from Asia.