Zhaojin Mining climbs 8% as gold breaks $4,500 on U.S. bond buyback
Zhaojin Mining (1818.HK) climbed 8% during Hong Kong trading to HK$25.74.
The rally came as international gold prices broke through $4,500 per ounce, lifting Hong Kong-listed gold miners across the board. The precious metal's surge followed the U.S. Treasury's announcement to at least double the size of its long-term bond buyback program, which sent 30-year Treasury yields sharply lower and weakened the U.S. dollar.
Peers including Zijin Mining International, Lingbao Gold and Shandong Gold also posted gains. The broader gold complex continues to draw structural support as the total U.S. federal debt has surpassed $40 trillion, prompting central banks worldwide to accelerate reserve diversification and increase gold allocations.