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<Research>BOCI Forecasts Gold Prices to Rise Another 40% This Yr, Officially Initiates Coverage on CN Gold Sector; Top Picks SD GOLD/ ZHAOJIN MINING
Recommend 8 Positive 17 Negative 3 |
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After surging 67% last year, gold prices have climbed another 6% YTD, hitting a new all-time high, according to BOCI's research report. Purchases by central banks and insurers, coupled with capital shifting from cryptocurrencies to gold, are expected to further boost gold prices. The recently escalated global geopolitical tensions and expectations of further US interest rate cuts made gold an increasingly attractive safe-haven investment. BOCI forecasted gold prices to soar 40% YoY this year, and officially initiated coverage of China's gold sector, with rating at Overweight. SD GOLD (01787.HK) and ZHAOJIN MINING (01818.HK) are its top picks. Regarding individual stock recommendations, the broker rated the H-shares of SD GOLD, ZHAOJIN MINING and ZIJIN MINING (02899.HK) at Buy, and rated ZIJIN GOLD INTL (02259.HK) at Hold. The ratings and target prices are listed below: Stock | Rating | TP (HK$) SD GOLD(01787.HK) | Buy | 52.06 ZHAOJIN MINING(01818.HK) | Buy | 44.78 ZIJIN GOLD INTL(02259.HK) | Hold | 152 ZIJIN MINING(02899.HK) | Buy | 46.43 AAStocks Financial News Website: www.aastocks.com |
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