https://www.scmp.com/rss/519876/feed en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Yeon Woo Lee Yeon Woo Lee Gold prices have continued to weaken despite escalating tensions in the US-Israel conflict with Iran, breaking from the metal’s traditional role as a geopolitical hedge, as fading expectations of interest rate cuts and a stronger US dollar weigh on sentiment, analysts said. The metal has declined about 15 per cent since a brief surge on March 2, when prices climbed to around US$5,300 per ounce following US and Israeli strikes on Iran. A modest rebound driven by technical buying on Friday did... https://www.scmp.com/business/commodities/article/3347473/gold-slides-hawkish-fed-and-strong-us-dollar-override-geopolitical-fears?utm_source=rss_feed https://www.scmp.com/business/commodities/article/3347473/gold-slides-hawkish-fed-and-strong-us-dollar-override-geopolitical-fears?utm_source=rss_feed Sun, 22 Mar 2026 09:00:27 +0000 Matteo Giovannini Matteo Giovannini China’s push to position Hong Kong as a global gold trading hub is not merely a commodities story. It is a strategic play unfolding at a time when the architecture of global finance is fragmenting and questions of monetary sovereignty are returning to the forefront. Recent reporting has highlighted Beijing’s efforts to strengthen Hong Kong’s role in international gold trading as part of a broader bid for market influence. Behind the move lies the ambition to reshape pricing power and the... https://www.scmp.com/opinion/hong-kong-opinion/article/3345284/why-hong-kong-could-be-next-global-hub-gold-trading?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3345284/why-hong-kong-could-be-next-global-hub-gold-trading?utm_source=rss_feed Sun, 08 Mar 2026 21:30:07 +0000 Kevin Li Kevin Li Hong Kong and Singapore have crossed swords over their ambitions to be the world’s gold trading hub, but experts say the city holds an advantage over its Southeast Asian rival, citing its access to mainland China’s robust market. As Hong Kong pushes ahead with measures to create an ecosystem for gold trading – highlighted as recently in the government’s budget late last month – Singapore has reportedly been courting global heavyweights. In response to the South China Morning Post’s queries a... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3345867/hong-kong-singapore-square-race-become-worlds-gold-trading-hub?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3345867/hong-kong-singapore-square-race-become-worlds-gold-trading-hub?utm_source=rss_feed Sun, 08 Mar 2026 11:00:12 +0000 Aileen Chuang,Emily Hung Aileen Chuang,Emily Hung Hong Kong is aiming to sharpen its competitive edge as an offshore yuan hub, an asset and wealth management base, and a digital-asset front runner under Financial Secretary Paul Chan Mo-po’s budget released on Wednesday. Market participants largely welcomed Hong Kong’s renewed push to strengthen its position as an international financial centre, after Chan highlighted the city’s unique role in driving the yuan’s internationalisation and capital account opening. The initiative comes as Beijing... https://www.scmp.com/news/hong-kong/article/3344634/hong-kong-seeks-hone-edge-offshore-yuan-hub-digital-asset-front-runner?utm_source=rss_feed https://www.scmp.com/news/hong-kong/article/3344634/hong-kong-seeks-hone-edge-offshore-yuan-hub-digital-asset-front-runner?utm_source=rss_feed Wed, 25 Feb 2026 12:23:24 +0000 Peggy Ye Peggy Ye The surge in gold prices has brought a wave of new investment-focused bullion retailers to Hong Kong’s prime shopping areas, adding a distinct segment alongside traditional jewellery merchants. These retailers – which sell gold coins and bars, rather than ornamental pieces – have taken up ground-floor store spaces that were left vacant during the city’s post-pandemic recovery. Their rapid expansion has been followed by the return of high-end jewellery vendors, a development that has helped... https://www.scmp.com/business/commodities/article/3344102/investment-gold-retailers-move-vacant-hong-kong-high-street-shops-metals-rise?utm_source=rss_feed https://www.scmp.com/business/commodities/article/3344102/investment-gold-retailers-move-vacant-hong-kong-high-street-shops-metals-rise?utm_source=rss_feed Sun, 22 Feb 2026 01:30:14 +0000 Enoch Yiu Enoch Yiu Hong Kong’s financial markets on Friday greeted the Year of the Horse with a mixed response, with stocks and gold moving in different directions on the first trading day of the year. Markets reopened on the fourth day of the Lunar New Year, with the Hang Seng Index closing 1.1 per cent lower at 26,413.25, and gold advancing 0.6 per cent to end the day at HK$46,685 (US$5,985) a tael (37.9 grams). Hong Kong Gold Exchange (HKGX) chairman Haywood Cheung Tak-hay said the exchange would team up with... https://www.scmp.com/business/commodities/article/3344067/hong-kong-stocks-and-gold-start-year-horse-mixed-note?utm_source=rss_feed https://www.scmp.com/business/commodities/article/3344067/hong-kong-stocks-and-gold-start-year-horse-mixed-note?utm_source=rss_feed Fri, 20 Feb 2026 03:40:58 +0000 Themis Qi Themis Qi Gold’s volatile run is far from over, with the precious metal increasingly reasserting itself as an alternative form of “risk-free” money alongside the US dollar amid persistent inflation and geopolitical uncertainty, according to Jupiter Asset Management. With physical bullion in short supply, the firm sees mining companies as a more efficient way to gain exposure, offering potentially higher returns from smaller allocations thanks to strong profits and free cash flow. The outlook follows a... https://www.scmp.com/business/commodities/article/3343907/golds-volatile-run-set-continue-investors-eye-next-breakout?utm_source=rss_feed https://www.scmp.com/business/commodities/article/3343907/golds-volatile-run-set-continue-investors-eye-next-breakout?utm_source=rss_feed Fri, 20 Feb 2026 01:30:15 +0000 Cao Li Cao Li Producers across the world are likely to ramp up output of commodities such as copper and lithium, limiting the kind of runaway price gains seen in gold even as markets anticipate a prolonged rally in raw materials, Goldman Sachs said. Gold has surged to record highs, while a range of other commodities have also climbed, as governments and investors seek the perceived “insurance” value of hard assets amid geopolitical tensions and policy uncertainty, the US bank said in a report addressing what... https://www.scmp.com/business/article/3343829/copper-lithium-unlikely-match-golds-gains-output-rises-goldman?utm_source=rss_feed https://www.scmp.com/business/article/3343829/copper-lithium-unlikely-match-golds-gains-output-rises-goldman?utm_source=rss_feed Thu, 19 Feb 2026 03:30:08 +0000 Aileen Chuang Aileen Chuang This Lunar New Year, Hongkongers can gift friends and family digital gold tokens, a new way of blending the city’s tradition of giving gold for good wishes with the convenience of blockchain technology. HSBC added this new transfer feature earlier this month to its retail gold token, which represents fractional ownership of physical gold stored in a secure vault and is the only retail-focused gold token approved by Hong Kong’s Securities and Futures Commission. The bank’s enhancement to its gold... https://www.scmp.com/business/cryptocurrency/article/3343695/what-tokenised-gold-and-why-are-financial-institutions-and-investors-looking-it?utm_source=rss_feed https://www.scmp.com/business/cryptocurrency/article/3343695/what-tokenised-gold-and-why-are-financial-institutions-and-investors-looking-it?utm_source=rss_feed Tue, 17 Feb 2026 02:00:17 +0000 Enoch Yiu Enoch Yiu Gold, mahjong sets, fancy lai see packets and dinners with fireworks views are among the incentives Hong Kong banks are using to lure wealthy customers from the city and the mainland during the Lunar New Year, which kicks off on Tuesday. Hong Kong authorities estimated that as many as 1.43 million mainland visitors would cross the border during the holiday period, up 6 per cent from a year earlier. The Year of the Horse begins on Tuesday, but the mainland holiday started on Sunday and ends on... https://www.scmp.com/business/banking-finance/article/3343663/hong-kong-banks-lure-wealthy-clients-gold-mahjong-sets-fireworks-during-holiday?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3343663/hong-kong-banks-lure-wealthy-clients-gold-mahjong-sets-fireworks-during-holiday?utm_source=rss_feed Mon, 16 Feb 2026 05:00:09 +0000 He Huifeng He Huifeng People across China are buying up gold in large volumes ahead of the Lunar New Year holiday, as surging prices for the precious metal fuel its popularity as both a festive gift and an investment. From migrant workers splashing out on gold-coated jewellery, to white-collar workers pouring their savings into gold-linked investment funds, the metal is widely seen not only as a marker of social respectability, but also as a safety net amid an uncertain world. The rising demand comes amid an... https://www.scmp.com/economy/china-economy/article/3343554/chinas-gold-rush-why-families-are-doubling-down-precious-metals?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3343554/chinas-gold-rush-why-families-are-doubling-down-precious-metals?utm_source=rss_feed Sat, 14 Feb 2026 12:00:16 +0000 Mia Nurmamat Mia Nurmamat China is charting a course for a major increase in domestic gold output over the next five years, while also advancing a new round of mineral-exploration breakthroughs, to bolster self-sufficiency amid a global shift away from the US dollar and heightened geopolitical tensions that underscore gold’s role as a financial haven. The proposal, outlined by the China Gold Association, aims to upgrade mining and smelting technologies during the country’s 15th five-year plan period (2026-2030) while... https://www.scmp.com/economy/china-economy/article/3342532/china-eyes-gold-production-surge-amid-de-dollarisation-drive-aiming-hedge-global-risks?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3342532/china-eyes-gold-production-surge-amid-de-dollarisation-drive-aiming-hedge-global-risks?utm_source=rss_feed Thu, 05 Feb 2026 13:00:10 +0000 Nicholas Spiro Nicholas Spiro For some of the most dramatic swings in financial markets in recent memory, look no further than the plunge in the price of silver on January 30. The precious metal suffered its largest one-day fall since March 1980, losing a staggering 27 per cent. Gold, silver’s more illustrious cousin, also experienced its steepest one-day decline since early 1980, dropping 9 per cent. The ferocity of the sell-off was matched only by the intensity of the surge in the precious metal markets in the past few... https://www.scmp.com/opinion/asia-opinion/article/3342464/why-trump-not-asian-investors-blame-gold-and-silver-volatility?utm_source=rss_feed https://www.scmp.com/opinion/asia-opinion/article/3342464/why-trump-not-asian-investors-blame-gold-and-silver-volatility?utm_source=rss_feed Thu, 05 Feb 2026 08:30:37 +0000 Zhu Wenqian Zhu Wenqian With economic and geopolitical instability showing little sign of retreat in 2026, momentum from last year’s strong gold demand was likely to persist this year, the London-based World Gold Council (WGC) said on Thursday. Gold investment demand across sectors was expected to remain firm, underpinned by anticipated US Federal Reserve rate cuts, the prospect of a weaker US dollar and the reduced appeal of bonds as risk premiums rise, the WGC said in its outlook. “The continued rally in spot gold... https://www.scmp.com/business/article/3341699/gold-demand-set-stay-strong-2026-risks-persist-world-gold-council?utm_source=rss_feed https://www.scmp.com/business/article/3341699/gold-demand-set-stay-strong-2026-risks-persist-world-gold-council?utm_source=rss_feed Thu, 29 Jan 2026 11:00:18 +0000 Sylvia Ma Sylvia Ma Gold’s blistering rally to start 2026 – surging past US$5,500 an ounce – has already eclipsed many full-year price targets, forcing analysts to upgrade their outlooks. And for some, the US$6,000 threshold is now in view. The buying spree has prompted some Chinese funds to suspend new purchases, with one warning investors of “the risk of trading at a premium in the secondary market”. As of midday Thursday, spot gold stood at about US$5,540 per ounce, easing from an earlier high of US$5,598... https://www.scmp.com/economy/global-economy/article/3341653/runaway-gold-why-even-wall-street-cant-keep-metals-record-ascent?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3341653/runaway-gold-why-even-wall-street-cant-keep-metals-record-ascent?utm_source=rss_feed Thu, 29 Jan 2026 06:48:57 +0000 He Huifeng He Huifeng The sudden demise of a major gold trading platform has rocked the southern Chinese city of Shenzhen, leaving tens of thousands of retail investors with combined losses totalling more than 10 billion yuan (US$1.4 billion), according to investors and domestic media reports. Chinese retail investors have rushed to capitalise on the unprecedented rally in global gold prices in recent months, leading many to put their funds into the online metals trading platform JWR. But as the gold spot price... https://www.scmp.com/economy/china-economy/article/3341633/chinas-gold-fever-sparks-us1-billion-scandal-trading-platform-collapses?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3341633/chinas-gold-fever-sparks-us1-billion-scandal-trading-platform-collapses?utm_source=rss_feed Thu, 29 Jan 2026 04:40:07 +0000 Brian Rhoads,Raymond Ma Brian Rhoads,Raymond Ma The price of gold has surged 20 per cent this month, surpassing US$5,200 for the first time, fuelled by dollar weakness, central bank buying and retail speculation. The metal jumped 3.4 per cent on Tuesday, the most since April, after US President Donald Trump said that a weaker greenback is “great”. The comment spurred a rush to ditch the currency in favour of “safe haven” gold. Speculation that Trump will appoint a rate-cutting Federal Reserve chairman and general policy uncertainty have also... https://www.scmp.com/plus/economy/china-economy/article/3341542/gold-surges-trump-calls-weak-dollar-great?utm_source=rss_feed https://www.scmp.com/plus/economy/china-economy/article/3341542/gold-surges-trump-calls-weak-dollar-great?utm_source=rss_feed Wed, 28 Jan 2026 09:04:28 +0000 SCMP Editorial SCMP Editorial Hong Kong’s resilience and evolution as a global financial centre was shining brightly this week when important milestones were unveiled at an international business gathering in the city. The community should celebrate the “unprecedented achievements” and prepare to work to ensure the momentum continues in an era of great geopolitical uncertainty. Chief Executive John Lee Ka-chiu opened the 19th Asian Financial Forum (AFF) on Monday by unveiling a game-changing deal with Shanghai to turn Hong... https://www.scmp.com/opinion/comment/article/3341403/hong-kongs-future-financial-centre-looks-golden?utm_source=rss_feed https://www.scmp.com/opinion/comment/article/3341403/hong-kongs-future-financial-centre-looks-golden?utm_source=rss_feed Tue, 27 Jan 2026 23:15:09 +0000 Enoch Yiu Enoch Yiu Hong Kong has struck a deal with the Shanghai Gold Exchange (SGE) to deepen cross-border connectivity in bullion trading, as the city steps up efforts to build a broader gold ecosystem spanning trading, clearing and storage. The agreement comes as gold prices hit a record high of US$5,110 per ounce on Tuesday morning, buoyed by geopolitical tensions and growing expectations of lower US interest rates, which have revived demand for the precious metal as a safe-haven asset. A government official... https://www.scmp.com/business/commodities/article/3341290/explainer-why-hong-kong-turning-shanghai-build-gold-hub?utm_source=rss_feed https://www.scmp.com/business/commodities/article/3341290/explainer-why-hong-kong-turning-shanghai-build-gold-hub?utm_source=rss_feed Tue, 27 Jan 2026 02:00:14 +0000 Kandy Wong Kandy Wong Gold surged to an all-time high of US$5,100 an ounce on Monday, with analysts forecasting further gains as the precious metal is increasingly viewed as a strategic hedge amid heightened geopolitical risks linked to the current US administration’s foreign policy shifts and a growing push for de-dollarisation. “We see the recent move as justifiable, given the rise in geopolitical risks and [the] macro environment,” said Alexandra Symeonidi, a senior corporate credit and sustainability analyst with... https://www.scmp.com/economy/china-economy/article/3341217/gold-surge-has-analysts-eyeing-new-highs-after-us5000-record-amid-trump-era-geopolitics?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3341217/gold-surge-has-analysts-eyeing-new-highs-after-us5000-record-amid-trump-era-geopolitics?utm_source=rss_feed Mon, 26 Jan 2026 05:10:56 +0000 Enoch Yiu Enoch Yiu High-dividend yielding Hong Kong and mainland banking stocks are likely to attract investors looking to park some of the HK$106.16 billion (US$13.6 billion) windfall from the Hang Seng Bank privatisation deal, according to analysts. They tipped Bank of China (Hong Kong) and HSBC to be among the biggest beneficiaries these investors seek as dividend-paying replacements. About 15,000 Hang Seng Bank shareholders are expected to receive their payout cheques by February 4 in exchange for their... https://www.scmp.com/business/article/3339361/which-stocks-will-hang-seng-bank-shareholders-consider-their-us14-billion-windfall?utm_source=rss_feed https://www.scmp.com/business/article/3339361/which-stocks-will-hang-seng-bank-shareholders-consider-their-us14-billion-windfall?utm_source=rss_feed Sun, 11 Jan 2026 23:30:12 +0000 Sylvia Ma Sylvia Ma Safe-haven assets, including gold and the US dollar, gained further traction after the United States’ abduction of Venezuelan leader Nicolas Maduro, while the Chinese yuan remained relatively resilient despite the stronger dollar. The spot gold price rose to more than US$4,420 per ounce early on Monday morning, before edging down to US$4,402 per ounce by midday, according to financial data provider Wind. Meanwhile, the US dollar index rose to 98.76 from 98.41 at the start of trading on... https://www.scmp.com/economy/china-economy/article/3338727/us-dollar-gold-rise-after-maduro-seizure-investors-seek-safe-havens?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3338727/us-dollar-gold-rise-after-maduro-seizure-investors-seek-safe-havens?utm_source=rss_feed Mon, 05 Jan 2026 04:44:55 +0000 Ishani Sarkar Ishani Sarkar The final week of 2025 may have moved at a syrupy slow pace, but bullion markets seem to be more volatile than ever. After an unprecedented year-end rally, gold rose past US$4,500 an ounce, notching its biggest yearly gain in over four decades, according to Bloomberg News. Meanwhile, silver and platinum aren’t far behind. The price of these precious metals more than doubled in 2025, with silver going up to US$75 an ounce, surpassing even gold’s explosive gains, and platinum crossing US$2,000, a... https://www.scmp.com/magazines/style/luxury/luxury-news/article/3338240/explainer-why-gold-prices-keep-fluctuating-and-why-investors-shouldnt-panic?utm_source=rss_feed https://www.scmp.com/magazines/style/luxury/luxury-news/article/3338240/explainer-why-gold-prices-keep-fluctuating-and-why-investors-shouldnt-panic?utm_source=rss_feed Wed, 31 Dec 2025 06:00:18 +0000 Enoch Yiu Enoch Yiu Gold has hit multiple records in 2025, but analysts believe the rally is far from over, with some forecasting the yellow metal could climb to US$5,000 per ounce amid geopolitical tensions and a buying spree by central banks. Spot gold broke through the US$4,500-per-ounce mark for the first time, reaching a record US$4,510 on Christmas Eve on Wednesday, which was 72 per cent higher than the end of last year, when it stood at US$2,624. This was the biggest annual jump for the precious metal,... https://www.scmp.com/business/banking-finance/article/3337563/golden-era-prices-surge-rally-heads-towards-us5000-2026-analysts-forecast?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3337563/golden-era-prices-surge-rally-heads-towards-us5000-2026-analysts-forecast?utm_source=rss_feed Thu, 25 Dec 2025 01:30:14 +0000 Julie Zhang Julie Zhang Hong Kong is putting gold at the centre of its push to become a global commodities trading hub, with officials prioritising plans for an international gold trading centre alongside a broader strategy to expand the city’s role in physical trade, derivatives and logistics. The government’s newly formed Commodity Strategy Committee held its first meeting on Monday under Financial Secretary Paul Chan Mo-po, as Hong Kong looked to build out a commodities ecosystem that would generate new growth... https://www.scmp.com/business/banking-finance/article/3337366/gold-takes-centre-stage-hong-kong-launches-committee-build-commodities-ecosystem?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3337366/gold-takes-centre-stage-hong-kong-launches-committee-build-commodities-ecosystem?utm_source=rss_feed Mon, 22 Dec 2025 11:11:01 +0000 Bloomberg Bloomberg Silver jumped more than 2 per cent to a record high, with traders placing speculative bets on the white metal given ongoing supply tightness and rising expectations for an interest-rate cut in the US. Gold was steady. Silver rose as high as US$57.86 an ounce, before paring some of its gains. The precious metal has risen for six consecutive days and doubled in value this year, outpacing a roughly 60 per cent rise in gold. A record amount of the metal flowed into London in October to ease a... https://www.scmp.com/business/china-business/article/3334760/silver-surge-outpaces-gold-global-squeeze-rising-interest-rate-cut-hopes?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3334760/silver-surge-outpaces-gold-global-squeeze-rising-interest-rate-cut-hopes?utm_source=rss_feed Mon, 01 Dec 2025 08:46:40 +0000 Sylvia Ma Sylvia Ma Several major banks forecast that gold prices will shake off a recent correction and hit an all-time high next year, with ongoing strong demand from central banks and anticipated US Federal Reserve rate cuts likely to buoy the market. Deutsche Bank has raised its 2026 average gold price forecast to US$4,450 per ounce from US$4,000 previously, setting a projected yearly trading range of US$3,950 to US$4,950, according to a research note released on Wednesday. “Stabilising investor flow and... https://www.scmp.com/economy/china-economy/article/3334493/gold-prices-could-hit-record-highs-over-us4900-next-year-forecasts?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3334493/gold-prices-could-hit-record-highs-over-us4900-next-year-forecasts?utm_source=rss_feed Fri, 28 Nov 2025 07:17:54 +0000 Junjie Wang Junjie Wang – https://www.scmp.com/plus/article/3334447/gold-fever-china?utm_source=rss_feed https://www.scmp.com/plus/article/3334447/gold-fever-china?utm_source=rss_feed Fri, 28 Nov 2025 03:07:48 +0000 Zhang Shidong Zhang Shidong Zijin Mining Group and other Chinese gold producers may get another boost from a spurt in the price of the precious metal, as some investment banks and asset managers believe the record-breaking rally in bullion is far from over. Gold reclaimed the US$4,100 an ounce level this week, indicating that a brutal sell-off last month that sent it plunging from a record US$4,381 may be over. UBS Group’s global wealth management unit predicts that gold will hold onto the US$4,200 level in the next 12... https://www.scmp.com/business/china-business/article/3332339/chinese-gold-stocks-set-shine-ubs-and-schroders-see-bullion-extending-gains?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3332339/chinese-gold-stocks-set-shine-ubs-and-schroders-see-bullion-extending-gains?utm_source=rss_feed Tue, 11 Nov 2025 23:30:09 +0000 Dario Pong Dario Pong As Hong Kong embarks on the exciting journey of building a commodities ecosystem, four key areas could help the city set the course. The task at hand is to explore real economy patterns to supplement the city’s financial plans. First, we must prioritise products. The commodities market covers multiple categories. However, I will only focus on the industrial metals subset. Here, Hong Kong would want to select highly liquid, high-impact products to make scaling up easier. Three major metals are... https://www.scmp.com/opinion/hong-kong-opinion/article/3331230/how-hong-kong-can-build-thriving-commodities-market-ecosystem?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3331230/how-hong-kong-can-build-thriving-commodities-market-ecosystem?utm_source=rss_feed Tue, 04 Nov 2025 01:30:09 +0000 Julie Zhang,Cheryl Arcibal Julie Zhang,Cheryl Arcibal Switzerland’s MKS PAMP, one of the world’s largest refiners and traders of precious metals, has joined a growing number of European companies that are expanding operations in Hong Kong, drawn by the city’s strengthened focus on its financial services and commodity trading sectors. The Geneva-based firm – locally known for minting the centenary gold bars for Bank of China (Hong Kong) in 2017 – on Thursday opened its 3,600 sq ft regional headquarters at the St John’s Building on Garden Road in... https://www.scmp.com/business/banking-finance/article/3331186/swiss-firm-mks-pamp-aims-help-build-hong-kong-international-gold-trading-hub?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3331186/swiss-firm-mks-pamp-aims-help-build-hong-kong-international-gold-trading-hub?utm_source=rss_feed Sun, 02 Nov 2025 06:00:17 +0000 Cannix Yau Cannix Yau Hong Kong’s first and only tokenised gold trading company is in talks with Beijing to obtain its endorsement for its products, which it believes can help China promote its economy to other Asian countries, the Post has learned. Newly founded Esperanza Fintech, which plans to offer gold and security tokens for live entertainment shows and other projects such as shopping centres, hotels and residential projects, was upbeat on receiving Beijing’s blessing for its operations, a source familiar with... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3330961/hong-kongs-sole-tokenised-gold-trading-firm-seeks-beijing-approval-product?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3330961/hong-kongs-sole-tokenised-gold-trading-firm-seeks-beijing-approval-product?utm_source=rss_feed Thu, 30 Oct 2025 14:58:11 +0000 Sylvia Ma Sylvia Ma Global gold demand hit a record high in the third quarter of 2025, the World Gold Council said in a new report, adding that it remained upbeat about the outlook for the precious metal. The findings came amid a recent pullback in gold prices after a months-long rally that had sent it to record highs. Gold demand reached 1,313 tonnes – or about US$146 billion in value terms – between July and September, the highest quarterly total on record, according to the report released by the trade... https://www.scmp.com/economy/economic-indicators/article/3330912/gold-demand-hit-record-high-third-quarter-and-will-remain-strong-report-says?utm_source=rss_feed https://www.scmp.com/economy/economic-indicators/article/3330912/gold-demand-hit-record-high-third-quarter-and-will-remain-strong-report-says?utm_source=rss_feed Thu, 30 Oct 2025 12:00:11 +0000 Cao Li Cao Li At the newly opened Laopu Gold store in Hong Kong’s IFC Mall, it was quiet on a weekday afternoon. The barriers at the entrance, the spacious lounge and private rooms inside all exude the luxury image the brand aspires to project. A few days ago, long queues were seen before the shop’s opening, with some arriving hours earlier to secure a chance to buy gold jewellery at a discount as part of its inaugural promotion. The Beijing-based jeweller has defied China’s sluggish consumption trend, in... https://www.scmp.com/business/companies/article/3330274/how-chinese-jeweller-laopu-gold-has-become-luxury-phenomenon?utm_source=rss_feed https://www.scmp.com/business/companies/article/3330274/how-chinese-jeweller-laopu-gold-has-become-luxury-phenomenon?utm_source=rss_feed Sun, 26 Oct 2025 01:30:21 +0000 Zhang Shidong Zhang Shidong Zijin Mining Group and other gold producers slumped in Hong Kong and Chinese mainland trading, tracking the steepest decline in the yellow metal in 12 years after investors took profits from a torrid rally and geopolitical risks showed signs of receding. Fujian province-based Zijin Mining tumbled 1.7 per cent to HK$31.80 in the city, while Shandong Gold Mining plunged 2.6 per cent to HK$34.50 and Chifeng Jilong Gold Mining sank 3 per cent to HK$28.52. A gauge of 43 gold-linked stocks trading on... https://www.scmp.com/business/china-business/article/3329890/chinese-gold-producers-tumble-after-bullions-biggest-drop-12-years-shatters-record-run?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3329890/chinese-gold-producers-tumble-after-bullions-biggest-drop-12-years-shatters-record-run?utm_source=rss_feed Wed, 22 Oct 2025 07:00:09 +0000 Cao Li Cao Li Chinese jeweller Laopu Gold is raising HK$2.72 billion (US$350 million) through a new share placement in Hong Kong – its second such fundraising this year – as it looks to build inventory ahead of the peak shopping season amid high gold prices. The Beijing-based company planned to issue about 3.7 million new shares at HK$732.49 each, representing a 4.5 per cent discount to Tuesday’s closing price of HK$767, according to a filing with the Hong Kong stock exchange on Wednesday. The new shares... https://www.scmp.com/business/article/3329886/laopu-gold-launches-us350-million-share-placement-demand-gold-prices-surge?utm_source=rss_feed https://www.scmp.com/business/article/3329886/laopu-gold-launches-us350-million-share-placement-demand-gold-prices-surge?utm_source=rss_feed Wed, 22 Oct 2025 04:41:17 +0000 Connor Mycroft Connor Mycroft Hong Kong police have arrested two men who allegedly used fake gold items to swindle pawn shops across the city out of HK$140,000 (US$56,587), as prices for the precious metal reached record-breaking highs amid wider global economic uncertainty. The force said on Wednesday that officers from its Wong Tai Sin branch had arrested a 27-year-old and a 54-year-old earlier this week on charges of “obtaining property by deception” and “attempting to obtain property by deception”. Investigations... https://www.scmp.com/news/hong-kong/law-and-crime/article/3329082/hong-kong-police-arrest-2-men-alleged-hk440000-fake-gold-swindle?utm_source=rss_feed https://www.scmp.com/news/hong-kong/law-and-crime/article/3329082/hong-kong-police-arrest-2-men-alleged-hk440000-fake-gold-swindle?utm_source=rss_feed Wed, 15 Oct 2025 06:30:58 +0000 SCMP Editorial SCMP Editorial The gold rally that began in late 2022 continues to shine as there has been no meaningful correction so far. The Hong Kong government has gone along for the ride as it ramps up efforts to turn the city into a regional gold reserve hub. In the latest annual policy address, Hong Kong aims to achieve gold storage capacity of more than 2,000 tonnes over the next three years. With falling interest rates, geopolitical tensions and uncertainty about world economic growth, gold remains the classic... https://www.scmp.com/opinion/comment/article/3327991/hong-kongs-push-be-gold-reserves-hub-right-move?utm_source=rss_feed https://www.scmp.com/opinion/comment/article/3327991/hong-kongs-push-be-gold-reserves-hub-right-move?utm_source=rss_feed Mon, 06 Oct 2025 23:15:13 +0000 Enoch Yiu Enoch Yiu Since the beginning of the year, Kelvin Siu and his fiancée had waited for gold prices to decline before buying jewellery for their wedding. Last week, they finally pulled the trigger to purchase, as gold prices continued to climb to fresh highs. “We had no choice but to buy the gold dragon and phoenix bracelets and other jewellery last week because our wedding day is getting close,” said Siu, who has booked his wedding in December. Gold prices, which have surged more than 48 per cent this year... https://www.scmp.com/business/china-business/article/3327545/hong-kong-mainland-consumers-adapt-gold-price-surge-amid-wedding-jewellery-demand?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3327545/hong-kong-mainland-consumers-adapt-gold-price-surge-amid-wedding-jewellery-demand?utm_source=rss_feed Thu, 02 Oct 2025 02:30:11 +0000 Brian Rhoads,Raymond Ma Brian Rhoads,Raymond Ma Subscribers: The Daily Pulse won’t be published on October 1, which is China’s National Day. We will resume publication on Thursday, October 2. Zijin Gold International surged 68 per cent on its Hong Kong trading debut after raising HK$24.98 billion (US$3.21 billion) in the world’s second-largest initial public offering this year. The gold miner closed at HK$120.60, after earlier rising as much as 72 per cent. It sold 349 million shares at HK$71.59 apiece in the IPO, excluding an overallotment... https://www.scmp.com/plus/article/3327374/zijin-gold-flies-after-riding-two-2025s-biggest-market-waves?utm_source=rss_feed https://www.scmp.com/plus/article/3327374/zijin-gold-flies-after-riding-two-2025s-biggest-market-waves?utm_source=rss_feed Tue, 30 Sep 2025 09:01:04 +0000 Julie Zhang Julie Zhang Three Chinese mainland companies made stellar trading debuts on the Hong Kong stock exchange on Tuesday, burnishing the city’s credentials as the world’s top fundraising market. All three companies’ shares opened higher, with watch designer and manufacturer Shenzhen Hipine Precision leading the surge, opening with a 184 per cent gain from its offer price of HK$29.60. It closed up 258 per cent at HK$106. Trading under the stock code 2259, gold miner Zijin Gold International’s shares opened at... https://www.scmp.com/business/banking-finance/article/3327312/zijin-gold-makes-solid-hong-kong-trading-debut-shares-jump-56?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3327312/zijin-gold-makes-solid-hong-kong-trading-debut-shares-jump-56?utm_source=rss_feed Tue, 30 Sep 2025 02:31:09 +0000 Enoch Yiu Enoch Yiu Zijin Gold International, a wholly owned unit of China’s Zijin Mining, aims to raise HK$24.98 billion (US$3.21 billion) in an initial public offering (IPO) that would be Hong Kong’s second largest this year. Zijin Gold launched the sale of 349 million shares at an offer price of HK$71.59 per share on Friday, with the offering running until noon on Wednesday, according to its prospectus released on Friday. The deal would be second only to the US$5.24 billion May IPO of Contemporary Amperex... https://www.scmp.com/business/banking-finance/article/3326096/zijin-gold-launches-second-biggest-hong-kong-ipo-year-eyeing-us32-billion?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3326096/zijin-gold-launches-second-biggest-hong-kong-ipo-year-eyeing-us32-billion?utm_source=rss_feed Fri, 19 Sep 2025 05:16:50 +0000 Bloomberg Bloomberg GIC, Millennium Management and Hillhouse Investment are among heavyweights that are set to invest in Zijin Gold International’s initial public offering (IPO) in Hong Kong, according to people familiar with the matter. BlackRock, Fidelity International and Baillie Gifford were also among cornerstone investors that were poised to get around half of the IPO shares, the people said, asking not to be identified because the information is not public. The line-up of marquee names investing in Zijin... https://www.scmp.com/business/companies/article/3326013/zijin-golds-hong-kong-ipo-draws-heavyweights-gic-millennium-and-hillhouse-sources-say?utm_source=rss_feed https://www.scmp.com/business/companies/article/3326013/zijin-golds-hong-kong-ipo-draws-heavyweights-gic-millennium-and-hillhouse-sources-say?utm_source=rss_feed Thu, 18 Sep 2025 10:25:20 +0000 Eric Ng Eric Ng Zijin Gold International said it was the world’s fastest-growing gold producer, as the offshore unit of China’s largest miner is poised to launch by Friday an initial public offering (IPO) in Hong Kong that could be the city’s second-biggest sale this year. Average annual gold output grew 21.4 per cent every year between 2022 and 2024, making it the world’s 11th biggest producer last year, the unit of Zijin Mining Group said in its IPO prospectus. The Hong Kong-based company produced 1.5 million... https://www.scmp.com/business/banking-finance/article/3325551/zijins-gold-mine-unit-tops-world-output-growth-ahead-us3-billion-hong-kong-ipo?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3325551/zijins-gold-mine-unit-tops-world-output-growth-ahead-us3-billion-hong-kong-ipo?utm_source=rss_feed Mon, 15 Sep 2025 04:51:23 +0000 Thomas Yau Thomas Yau China is seeing a gold-buying rush as the precious metal has outperformed other assets, such as local real estate and stocks. The People’s Bank of China is also among central banks buying gold and paring US dollar holdings amid concerns about the outlook for the US economy and inflation. SCMP Plus subscribers enjoy early access to selected SCMP videos. https://www.scmp.com/plus/article/3324333/chinas-gold-rush?utm_source=rss_feed https://www.scmp.com/plus/article/3324333/chinas-gold-rush?utm_source=rss_feed Fri, 05 Sep 2025 06:40:19 +0000 Francesca Fearon Francesca Fearon At the recent unveiling of high jewellery collections in Paris, yellow gold glowed brightly. And well it might, since the value of gold has soared 40 per cent in the past year. Luxury brands such as Messika, Louis Vuitton, Pomellato, Hermès, Repossi and Dries Criel have taken a shine to the precious yellow metal, making bold modern design statements as if to celebrate its increased value. People like gold. We have been engaged with it for over 6,000 years and it has long been considered a safe... https://www.scmp.com/magazines/style/luxury/jewellery/article/3319403/jewellers-and-investors-all-glitters-gold-hermes-pomellato-and-chow-tai-fook-are-betting-gold?utm_source=rss_feed https://www.scmp.com/magazines/style/luxury/jewellery/article/3319403/jewellers-and-investors-all-glitters-gold-hermes-pomellato-and-chow-tai-fook-are-betting-gold?utm_source=rss_feed Thu, 24 Jul 2025 08:00:19 +0000 Eric Ng Eric Ng Zijin Mining, one of China’s largest miners of gold and copper, struck a deal to buy a project in Kazakhstan for US$1.2 billion ahead of a planned listing of its international unit on Hong Kong’s stock exchange. In a statement to the Hong Kong bourse on Monday, the company said the deal would increase its gold reserves and output and help it become one of the world’s top three producers by 2028, up from sixth last year. The deal would also “significantly enhance the asset scale, profit level and... https://www.scmp.com/business/article/3316335/zijin-buys-us12-billion-kazakhstan-gold-mine-ahead-overseas-units-hong-kong-listing?utm_source=rss_feed https://www.scmp.com/business/article/3316335/zijin-buys-us12-billion-kazakhstan-gold-mine-ahead-overseas-units-hong-kong-listing?utm_source=rss_feed Mon, 30 Jun 2025 05:21:44 +0000 Daniel Ren Daniel Ren The Shanghai Gold Exchange opened its first offshore warehouse in Hong Kong on Thursday, a move that is likely to bolster the international trading of its contracts. The vault witnessed several transactions of spot gold contracts after it became operational, according to a statement from Bank of China (Hong Kong), which runs the warehouse. Analysts said the launch of the vault and two yuan-denominated gold products represented a step forward for Beijing and Hong Kong in their effort to promote... https://www.scmp.com/business/banking-finance/article/3315978/shanghai-gold-exchange-launches-first-offshore-vault-hong-kong?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3315978/shanghai-gold-exchange-launches-first-offshore-vault-hong-kong?utm_source=rss_feed Thu, 26 Jun 2025 12:57:06 +0000 Kandy Wong Kandy Wong Gold prices have surged this year as investors seek safe investments amid a spike in economic uncertainty unleashed by US President Donald Trump’s tariff policies. But economists say that there is another important factor driving the rally: purchases by central banks. In this explainer, we explore why central banks are increasingly turning to gold assets, how that is driving a long-term structural shift in demand for the metal, and what that means for gold prices going forward. Why are central... https://www.scmp.com/economy/china-economy/article/3311909/why-central-banks-are-playing-big-role-pushing-gold-prices?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3311909/why-central-banks-are-playing-big-role-pushing-gold-prices?utm_source=rss_feed Tue, 27 May 2025 03:40:07 +0000 Eric Ng Eric Ng Gold Mountain Asset Management, an overseas unit of China’s Zijin Mining Group, has opened its gold and copper-focused fund to professional investors in Hong Kong seeking to tap into the upbeat sentiment for these metals. The wholly owned unit of one of China’s largest gold and copper miners previously sourced investments from within the group’s companies and its employees. “We are bullish on gold, because the price will be supported by ongoing geopolitical uncertainties and unresolved trade... https://www.scmp.com/business/commodities/article/3310880/chinas-zijin-mining-opens-gold-and-copper-stock-fund-hong-kong-investors?utm_source=rss_feed https://www.scmp.com/business/commodities/article/3310880/chinas-zijin-mining-opens-gold-and-copper-stock-fund-hong-kong-investors?utm_source=rss_feed Tue, 20 May 2025 23:30:07 +0000