On September 14, the gold sector reported that the gold and heavy metal sectors of Hong Kong stocks rose. Zhaojin Mining rose nearly 10%, Zijin Mining rose more than 5%, and Shandong Gold rose 3%. International gold prices have accelerated in the short-term, and spot gold has returned to above US$1950 per ounce. ANZ Bank said that a large amount of money supply, lower interest rates and macro uncertainty will support gold. "Demand for physical gold is picking up, and the price of gold can rise to US$2,300 per ounce next year."
Altavest general manager said that short-term gold price trends are difficult to predict, but investors are waiting for buying opportunities after the price of gold has fallen. Standard Chartered recently announced that it will raise the average price of gold in 2020 to US$1,805 per ounce, from US$1,749 per ounce previously.
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