TD Securities releases 2026 commodities outlook: Platinum and palladium to lead the rise in precious metals!
In its 2026 commodities outlook, TD Securities forecasts that gold prices will not plummet next year but instead are expected to reach new all-time highs, while silver prices will retreat to the mid-40 dollar range.
HSBC Research's Investment Ratings and Target Prices for Commodity Stocks (Table)
HSBC Research published a research report, providing the following table of investment ratings and target prices for raw material stocks: Stock | Investment Rating | Target Price (HKD) Diversified Mining Luoyang Molybdenum (03993.HK) | Hold | 7.6 yuan Aluminum China Hongqiao (01378.HK) | Buy | 37.4 yuan Aluminum Corporation of China (02600.HK) | Buy | 12.3 yuan Copper Jiangxi Copper (00358.HK) | Hold | 13 yuan Minmetals Resources (01208.HK) | Hold | 3.2 yuan Zijin Mining (02899.HK)
HSBC Research, in its coverage of the China materials sector, has expressed the strongest preference for aluminum and recommends buying Hongqiao (01378.HK) and Chalco (02600.HK).
HSBC Research released its monthly commodities report, noting that strong demand and tight supply have kept base metal prices robust. Given the strained market supply-demand balance, there may be further upside risks to prices. Among China's materials sector, the bank is most optimistic about aluminum; it also favors gold in the current macroeconomic context and holds a positive long-term outlook for construction materials. HSBC Research pointed out that looking ahead to next year, the fundamentals of the aluminum industry are trending toward strength. Combined with China’s production capacity cap limiting domestic supply growth and modest increases in overseas supply, annual growth is projected at 0.5% and 3%, respectively. Accordingly, the bank has raised its aluminum price forecasts for 2026 and 2027.
Hong Kong recorded 91 IPOs in the first eleven months, with a total fundraising amount of nearly HKD 260 billion, ranking first globally.
Wind data shows that in the first eleven months of this year, the Hong Kong stock market saw 91 new listings, with a total fundraising amount reaching HKD 259.889 billion. This not only marks the first time in four years that the Hong Kong Stock Exchange (00388.HK) has surpassed the HKD 200 billion fundraising threshold but also propelled it to the top position globally in terms of fundraising, setting a new record for fundraising scale. Among these, CATL (03750.HK), Zijin International (02259.HK), Sany Heavy Industry (06031.HK), and Seres (09927.HK) all ranked within the top ten global IPOs by fundraising this year. Notably, mainland Chinese brokerages have played an increasingly prominent role in sponsoring new listings on the Hong Kong market.
Hong Kong Stocks Close | All Three Major Indices Down; Safe-Haven Assets Continue to Gain Market Favor
① Why have technology stocks performed poorly recently? ② Why have stocks related to new energy vehicle makers declined?
Global Prosperity Keeps Their Buy Rating on Zijin Gold International Company Limited (2259)
Express News | Gold stocks in the Hong Kong stock market are gradually strengthening, with Zijin Gold International rising over 3%, Chifeng Gold, Zhaojin Mining, and Zijin Mining gaining nearly 2%, and Lingbao Gold increasing more than 1%.
Zijin Gold International (2259.HK): Outstanding performance in global resource acquisitions with strong cost control capabilities.
Latest developments: The acquisition and completion of the Raygorodok gold mine project in Kazakhstan have been finalized. Zijin Mining's wholly-owned subsidiary, Zijin Gold International, completed the acquisition of the Raygorodok gold mine in Kazakhstan through its wholly-owned subsidiary.
Postal Securities: Silver breaks through upward, optimistic about precious metals performance.
The bank believes that the conflict in the DRC may affect the transportation of tin from the Bisie mine, posing a short-term risk of a supply squeeze.
Gold stocks and gold retail stocks led gains as expectations of interest rate cuts continued to rise, driving up gold prices and pushing silver to a record high.
Gold stocks led the gains. As of press time, China Silver International rose over 11%, Lingbao Gold and China Gold International surged more than 7%, Zijin Mining climbed over 6%, and Zhaojin Mining advanced nearly 6%. Retail gold companies broadly gained, with Luk Fook Holdings rising over 7% and Laopu Gold increasing more than 5%.
Goldman Sachs Institutional Survey: 70% of respondents are bullish on gold prices, with 30% expecting a breakthrough above 5,000 next year.
①A Goldman Sachs survey shows that over 70% of institutional investors expect gold to continue rising next year, with 36% predicting it will exceed $5,000 per ounce by the end of next year; ②Boosted by expectations of Federal Reserve rate cuts, spot gold rose to $4,215 per ounce on Friday, accumulating an increase of over 60% year-to-date.
Gold ETF capital flows have completely reversed, with Morgan Stanley predicting that gold prices will soar to $4,500 by mid-next year!
The central bank is buying, retail investors are scrambling, and even ETF fund flows have reversed! Morgan Stanley has released a重磅 report unveiling the multiple drivers behind the surge in gold prices to $4,500…
Hong Kong Stocks Midday Review | Hang Seng Index Down 0.24% in Morning Session; GAC Group Leads Gains in Solid-State Battery Sector
GAC Group (02238) surged over 12% again as Aion UT Super commenced full delivery, and the all-solid-state battery production line was completed.
H-share Movement | Gold stocks extend gains, with Lingbao Gold rising over 4%; gold rebounds to the USD 4,200 mark.
Gelonghui, November 28 | The gains in Hong Kong-listed gold stocks continue to expand. Among them, China Gold International rose by 5.2%, Summit Victory Gold surged nearly 5%, Lingbao Gold increased over 4%, and other stocks such as Tongguan Gold, Shandong Gold, Chifeng Gold, Zhaojin Mining, Zijin Mining, and Zijin Gold International also saw upward movements. In terms of market news, driven by rising expectations of a Fed rate cut in December, COMEX gold has just reclaimed the $4,200-per-ounce level. A series of speeches by Fed officials and delayed economic data releases have further supported rate cut expectations, with the probability of a 25-basis-point rate cut in December exceeding 80%. Typically, declining interest rates are beneficial for gold assets. Many experts...
Hong Kong Stock Movement | Zijin Gold International (02259) Rises Over 3% Against the Market Trend as Production at Its Mines Increases; Set to Enter a Growth Phase in the Coming Years
Zijin Gold International (02259) rose against the market trend by over 3%. As of the time of writing, it was up 2.53%, trading at HKD 141.6, with a turnover of HKD 232 million.
Multiple favorable factors are supporting a bull market pattern for gold, with Hong Kong-listed gold stocks showing strong gains. Deutsche Bank is optimistic that gold prices could reach $5,000 by 2026.
① How do expectations of Fed rate cuts specifically influence the price trend of gold? ② Deutsche Bank forecasts that gold prices will exceed $5,000 per ounce by 2027. Is this aggressive prediction reasonable when compared to historical gold price trends?
An extraordinary gold deposit weighing 81 tons has been discovered in Sichuan, with Zijin Mining's presence noted behind the exploration rights holder. The actual controller of Sichuan Gold has committed to an asset injection.
① The discovery of a super-large gold deposit with an estimated resource volume of 81 tons in Sichuan Province has drawn significant attention; ② Zijin Mining and Sichuan Gold have been identified as key stakeholders holding the exploration rights.
Intelligent Market Analysis | Improvement in Sino-French Relations Benefits Europe’s Trade and Economy; Consumer Leaders Rally Again
No negative factors have been observed for now. The three major U.S. stock indices rebounded overnight, while Hong Kong stocks experienced slight fluctuations today, closing up 0.07%.
HSBC 2026 Outlook: Dual Drivers of Central Bank Demand and ETF Boom Make Gold Rally Inevitable
After the gold price surged past $4,000, HSBC believes that gold still has momentum, as central banks’ 'gold rush' forms a long-term price floor. The new engine driving the recovery of gold prices will be...
HSBC Starts Zijin Gold International at Buy With HK$178 Price Target