Zijin Mining (HKG:2899, SHA:601899) unit Gold Mountain Asset Management opened its gold and copper-focused fund to Hong Kong investors, the South China Morning Post reported Wednesday.
The mining company used to obtain investments from its units and employees, the report said.
The development comes as Gold Mountain and investors are bullish on gold, with prices seen to reach $4,000 per ounce in 2025 due to a weaker US dollar and higher demand from investors and central banks for the precious metal, the report said, citing Managing Director Lisa Liu Sha.
For UBS strategist Joni Teves, gold could cap at $3,500 per ounce by end-2025 and could hit $3,600 by the middle of next year on geopolitical and tariff uncertainty and rate decreases by the US Federal Reserve, the report said.
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