Shandong Gold Mining Co. (1787.HK) climbed 3% in Hong Kong trading to HK$23.22.

The rally tracked a surge in international gold prices, which hovered near $4,400 per ounce as a weaker US dollar and elevated Middle East tensions underpinned the precious metal. Soft US nonfarm payrolls and CPI readings have pushed the implied probability of a September Federal Reserve rate hike down to 30%–35%, weighing on the greenback. Ongoing gold accumulation by central banks globally provided additional floor support, lifting gold miners across the board.