Hong Kong Stock Concept Tracking|Gold companies generally report excellent financial results, and the World Gold Council expects gold prices to continue to rise within a year (with concept stocks)

According to a survey of the gold and banking industry, gold prices are expected to rise to a record high next year.

Delegates attending the annual meeting of the London Bullion Market Association in Miami expect that by the end of October next year, the price of gold will rise to an average of 2,917.40 US dollars per ounce, up nearly 10% from the current level. The data is based on average predictions from the top traders, refiners, and miners attending the Florida conference. According to the average forecast of LBMA representatives surveyed, the price of silver is expected to rise 43% during the same period to reach $45 per ounce.

According to the news, central bank officials from countries such as Mexico, Mongolia, and the Czech Republic have recently made rare statements and publicly expressed support for increasing gold reserves on various occasions. On Tuesday, COMEX gold futures rose 0.52% to $2679.50 per ounce. Gold hit a record high of $2,685 per ounce last month, driven by the Federal Reserve's shift to easing.

In addition, Shandong Gold released a performance forecast. According to preliminary estimates, net profit attributable to owners of the parent company is expected to be 1.85 billion yuan to 2.25 billion yuan in the first three quarters, an increase of 37.52% to 67.26% over the previous year. Hunan Gold said that in the first three quarters of 2024, the company is expected to achieve net profit attributable to shareholders of listed companies of 647 million yuan to 689 million yuan, an increase of 68.5% to 79.4% over the same period last year; Shanjin International said that net profit attributable to shareholders of listed companies is expected to be 1,680 billion yuan to 1,730 billion yuan in the first three quarters, an increase of 50.22% to 54.69% over the same period last year.

Companies related to the gold and precious metals sector:

Zijin Mining (02899), Shandong Gold (01787), Zhaojin Mining (01818), Lingbao Gold (03330), China Gold International (02099), Wanguo Gold Group (03939), etc.