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Inflation heats up, central banks turn hawkish! Is the wind changing for gold prices?
港股窩輪Jenny
joined discussion · Mar 9 11:58

Shandong Gold (01787) latest trend: Prospecting conference provides positive news, but gold price remains the key

Entering mid-March, international gold prices have been pressured by rising oil prices and external situations, dragging down the overall performance of Hong Kong-listed gold stocks. As of March 9, 2026, Shandong Gold (01787) closed at HKD 39.34, rebounding by 1.39%, with a trading volume of HKD 488 million. The stock's volatility over five days reached 19.6%, showing significant price fluctuations. In terms of market news, gold stocks generally weakened on March 9, with Zijin Mining (02899) $ZIJIN MINING (02899.HK)$ dropping over 5.08%, and Zhaojin Mining (01818) $ZHAOJIN MINING (01818.HK)$ also falling about 1.32%.
From a technical analysis perspective, Shandong Gold (01787) has been in a downtrend recently. The stock price has fallen below the 10-day (40.88 yuan), 30-day (41.87 yuan), and 60-day moving averages (39.63 yuan), showing clear short-term weakness. The Relative Strength Index (RSI) is at 41, not yet in the oversold zone, meaning the downside risk has not fully dissipated. However, multiple oscillation indicators such as the Williams %R, Stochastic Oscillator, and CCI have issued 'buy signals,' suggesting potential technical rebound needs after consecutive declines. The overall indicator signal is 'buy' with a strength of 9, indicating rising expectations for a short-term rebound.
In terms of support and resistance levels, the primary support is at 35.6 yuan; if it breaks below that, it will test 33.6 yuan. Above, resistance is concentrated at 41.7 yuan (10-day line) and 45.6 yuan, with 41.7 yuan being the primary target for a short-term rebound. Notably, previous insights from [HKEX Podcast] emphasized the high correlation between gold stocks and gold prices. Investors need to closely watch whether international gold prices can stabilize above the $5,000 mark. If gold prices stabilize, this could provide Shandong Gold with a rebound opportunity. Based on the latest share price of 39.34 yuan, which is between 35.6 yuan and 41.7 yuan, short-term trading should be viewed as range-bound volatility—accumulating on dips or waiting for breakout signals. In summary, an oversold signal has appeared for Shandong Gold (01787), with a short-term rebound targeting 41.7 yuan.
Entering mid-March, international gold prices have been pressured by rising oil prices and external situations, dragging down the overall performance of Hong Kong-listed gold stocks. As of March 9, 2026, Shandong Gold (01787) closed at HKD 39.34, rebounding by 1.39%, with a trading volume of HKD 488 million. The stock's volatility over five days reached 19.6%, showing significant price fluctuations. In terms of market news, gold stocks generally weakened on March 9, with Zijin Mining (02899) $ZIJIN MINING (02899.HK)$ dropping over 5.08%, and Zhaojin Mining (01818) $ZHAOJIN MINING (01818.HK)$ also falling about 1.32%. From a technical analysis perspective, Shandong Gold (01787) has recently been in a downward channel, with its stock price breaking below the 10-day (HKD 40.88), 30-day (HKD 41.87), and 60-day moving averages (HKD 39.63). It shows clear short-term weakness. The Relative Strength Index (RSI) stands at 41, which hasn’t yet entered the oversold zone, implying that downside risks haven’t fully dissipated. However, multiple oscillation indicators such as the Williams %R, Stochastic Oscillator, and CCI are signaling 'buy,' suggesting potential demand for a technical rebound after consecutive declines. The combined indicator signals 'buy' with an intensity of 9, raising expectations for a short-term rebound. In terms of support and resistance levels, the primary support is at HKD 35.6. If this level is breached, it may test HKD 33.6. Above, resistance is concentrated around HKD 41.7 (10-day line) and HKD 45.6, with HKD 41.7 being the short-term rebound...
In terms of warrant product deployment, selecting suitable call warrants can effectively capture a potential rebound. By analyzing the advantageous terms of four Shandong Gold call warrants, investors can make choices based on their risk appetite and holding expectations. First, the J.P. Morgan Call Warrant 24823 stands out in leverage, reaching 2.32 times, the highest among the four products, implying the strongest amplification effect on underlying stock price movements and offering greater potential returns. Its premium rate is 52.01%, the lowest of the four, indicating that the time value cost investors pay for leverage is relatively low. With a street ratio of only 2.69%, it remains at a healthy level, meaning the risk of price impact from large transactions is manageable. This product expires on July 30, 2027, slightly earlier than the other three, leading to faster time decay, making it suitable for investors seeking higher leverage and who can accept quicker time value erosion.
Secondly, the Societe Generale Call Warrant 22346 has an advantage in implied volatility, at just 63.98%, the lowest among the four products, indicating that the market’s expectation for future price fluctuations is relatively conservative, making its valuation more attractive from a pricing perspective. Its premium rate is 52.91%, second only to 24823, and the time value cost remains controllable. The street ratio is 2.87%, slightly higher but still relatively low. The expiration date is December 22, 2027, with slower time value decay, providing investors with more holding time. It is suitable for investors with higher requirements for valuation and holding periods.
In summary, 24823$JPSDGLD@EC2707A.C (24823.HK)$It has an advantage in terms of leverage and premium, while 22346.$SGSDGLD@EC2712A.C (22346.HK)$Call Warrant 24823 has advantages in leverage and premium, while Call Warrant 22346 is more stable in volatility and expiration dates. Both are appropriate tools for those optimistic about a short-term rebound in Shandong Gold.$BISDGLD@EC2712A.C (24114.HK)$$DSSDGLD@EC2712A.C (23246.HK)$
Entering mid-March, international gold prices have been pressured by rising oil prices and external situations, dragging down the overall performance of Hong Kong-listed gold stocks. As of March 9, 2026, Shandong Gold (01787) closed at HKD 39.34, rebounding by 1.39%, with a trading volume of HKD 488 million. The stock's volatility over five days reached 19.6%, showing significant price fluctuations. In terms of market news, gold stocks generally weakened on March 9, with Zijin Mining (02899) $ZIJIN MINING (02899.HK)$ dropping over 5.08%, and Zhaojin Mining (01818) $ZHAOJIN MINING (01818.HK)$ also falling about 1.32%. From a technical analysis perspective, Shandong Gold (01787) has recently been in a downward channel, with its stock price breaking below the 10-day (HKD 40.88), 30-day (HKD 41.87), and 60-day moving averages (HKD 39.63). It shows clear short-term weakness. The Relative Strength Index (RSI) stands at 41, which hasn’t yet entered the oversold zone, implying that downside risks haven’t fully dissipated. However, multiple oscillation indicators such as the Williams %R, Stochastic Oscillator, and CCI are signaling 'buy,' suggesting potential demand for a technical rebound after consecutive declines. The combined indicator signals 'buy' with an intensity of 9, raising expectations for a short-term rebound. In terms of support and resistance levels, the primary support is at HKD 35.6. If this level is breached, it may test HKD 33.6. Above, resistance is concentrated around HKD 41.7 (10-day line) and HKD 45.6, with HKD 41.7 being the short-term rebound...
Interactive Questions:
Dear readers, Shandong Gold (01787) currently has an RSI of 41, with technical indicators showing an oversold signal. Do you think it can rebound in the short term to reach the 41.7 yuan resistance?
Reminder: This article does not constitute any investment advice.
This article is for reference only and does not constitute any investment advice. The market data, opinions, and analysis contained herein may change at any time without prior notice. We are not responsible for any loss or damage caused by reliance on the information in this article. Technical analysis only shows whether certain technical conditions are met; a comprehensive assessment of asset performance should combine other data and should not solely rely on this article to make trading decisions. Please note that past performance is not indicative of future results. Follow Jenny's insights on Hong Kong stock warrants for more professional analysis.
#Shandong Gold #01787 #HongKongStocks #TechnicalAnalysis #SupportAndResistance #Warrants #CallOptions #GoldSector #GoldPrice #HongKongWarrantsJenny
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Risk Disclaimer: The above content only represents the author's view. It does not represent any position or investment advice of Futu. Futu makes no representation or warranty.Read more
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