Hong Kong Gold Mining Stocks Rally Up to 60% in July, Outpacing Metal Sector

According to Hong Kong Economic Journal, gold mining stocks in Hong Kong surged up to 60% in July, leading the metal sector on August 5. Wah Sun Gold (03939) jumped 11.7% to 11.55 HKD after issuing a positive profit guidance forecasting mid-year profit growth of about 50% year-on-year. Zijin Gold (02259) and Lingbao Gold (03330), both of which had issued profit alerts, gained over 10%.

International gold prices have declined significantly in 2026, dropping from a historic high of $5,595.47 per ounce in late January to $3,943.29 by end of June—a nearly 30% fall. Prices have since hovered around the $4,000 level in July. Mining companies, serving as leveraged plays on gold, have shown greater volatility than the commodity itself, presenting a rebound opportunity despite the broader market correction.