Movement Alert|WANGUO GOLD GP Intraday Rise 3.17%, Central Bank Gold Buying and Jinling Mine Expansion Drive Optimism

Market Focus
6 hours ago

On October 12, WANGUO GOLD GP rose 3.17% in regular trading to HK$13.66, with turnover of HK$50.77 million. The move reflects renewed optimism in gold prices after China's central bank extended its gold reserve accumulation to 23 consecutive months, adding 740,000 ounces in September to reach 77.47 million ounces. Goldman Sachs cited strong central bank diversification demand and projected gold could reach US$4,900 per ounce by the end of 2026.

On the operational front, the Jinling Gold Mine's 15 million tonne per year expansion continues to progress ahead of schedule. The heap leach plant crushing system completed successful trial feeding on September 16, marking entry into full-system commissioning. Guojin Securities has identified the Jinling expansion as the core driver of WANGUO GOLD GP's medium-term earnings growth.

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