Changes in Hong Kong stocks | Gold stocks rise again, the US Treasury expands long-term bond repurchases, and the decline in the US dollar boosts international gold prices

The Zhitong Finance App learned that gold stocks rose again. As of press release, Zijin Gold International (02259) rose 13.35% to HK$151; Lingbao Gold (03330) rose 9.8% to HK$24.26; Shandong Gold (01787) rose 9.38% to HK$26.12; and Zhaojin Mining (01818) rose 8.4% to HK$25.8.

According to the news, on August 19, EST, the international gold price broke through 4,500 US dollars per ounce. The US Treasury Department announced that it will expand the repurchase scale of longer-term treasury bonds and “at least double the scale of liquidity support repurchase operations” for 10-year to 30-year treasury bonds. Affected by this news, US 30-year Treasury yields fell in response, and the US dollar index declined simultaneously, providing clear price support for the interest-free asset gold.

Notably, according to data released by the US Treasury on August 19, the total debt of the US federal government has exceeded 40 trillion US dollars. The sharp rise in US debt has begun to cause central banks around the world to diversify their reserve assets and gradually become important buyers in the gold market. The central bank's act of continuing to increase the allocation of gold may help provide long-term support for gold prices, stabilize the long-term price center, and highlight the long-term strategic allocation value of gold.