Changes in Hong Kong stocks | Wanguo Gold International (03939) rose more than 5%, then broke the peak, and international gold prices continued to reach new highs. The agency says Jinling Gold Mine still has the potential to increase reserves

The Zhitong Finance App learned that Wanguo Gold International (03939) rose more than 5% in early trading to a high of HK$19.38, reaching another record high. As of press release, it rose 5.68% to HK$19.34, with a turnover of HK$47.9936 million.

According to the news, international gold prices have continued to reach new highs recently, and spot gold has refreshed the historical high to 3245.76 US dollars/ounce. According to Goldman Sachs's latest report, the target price for gold in 2025 was raised to 3,700 US dollars/ounce from the previous price of 3,300 US dollars/ounce, an increase of up to 12%. UBS also raised its gold price forecast to 3,500 US dollars/ounce. Meanwhile, J.P. Morgan predicts that the central bank's gold purchases will reach about 850 tons in 2025, and that the price of gold reaching 4,000 US dollars/ounce will “come faster than expected.”

According to Minsheng Securities, by the end of '24, the amount of resources in the Jinling Gold Mine had increased to 232 tons, and there may still be potential for further storage growth in the future. Based on the mine life cycle of about 20 years, the annual output of the Jinling Gold Mine may reach more than 10 tons in the future, and there is plenty of room for growth. The bank believes that the company has plenty of room for future growth. As the company's mining returns to normal and mineral processing gradually improves, the current production capacity is expected to rise. At the same time, there will be further expansion in production in the future, compounded by the gold price boom. It is optimistic that the company's subsequent gold production will continue to grow, leading to a sharp rise in volume and price.