Stock Movement | Gold mining stocks surge, Lingbao Gold jumps 10%

SighingCashier · 2026-04-01T04:15:49+00:00

After the US and Iran expressed willingness to de-escalate tensions, spot gold broke through $4,710, leading to a rise in gold mining stocks. Lingbao Gold surged by 10.9%, and Goldman Sachs has a bullish forecast, predicting gold prices could reach $5,400 by the end of the year. However, short-term downside risks remain; if energy supply shocks from the US and Iran intensify, gold prices could fall to $3,800.

SighingCashier

2026-04-01 04:15:49

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Iran and the U.S. signal willingness to release and pursue a ceasefire; in the Asian session, spot gold breaks above $4,710 per ounce. Gold-mining shares are surging, with Lingbao Gold (03330) climbing another 10%.

As of 11:45 a.m., Lingbao Gold is up 10.9%, trading at 28.62 yuan; Zijin Mining (02899) is up 5.2%, at 36.14 yuan; Zijin Gold International (02259) is up 6.4%, at 185.2 yuan; Zhaojin Mining (01818) is up 3%, at 32.7 yuan.

Shandong Gold (01787) is up 3%, at 33.3 yuan; Chifeng Gold (06693) is up 3.8%, at 42.9 yuan; Datang Gold (08299) is up 7.6%, at 0.57 yuan.

Gold prices near the recent months have fallen notably from record highs, but Goldman Sachs believes the medium-term outlook for gold remains solid. It maintains a bullish view on gold and expects gold prices to resume their uptrend again by the end of this year, potentially reaching $5,400 per ounce. The main reasons are continued central bank purchases and the U.S. expected to cut interest rates another two times this year.

Goldman Sachs said that in the short term, gold prices still face “tactical downside risk.” If energy supply disruptions intensify, gold prices could fall to $3,800 per ounce. However, if the Iran war can prompt investors to accelerate diversification away from “traditional Western assets” into other assets, then there is still substantial upside potential for gold prices.

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