Analysis of the Drivers and Risks Behind the Rising Popularity of Zijin Gold International (02259.HK)

The event occurred at 16:30:01 (UTC+8) on December 2, 2025, amid a market environment where international gold prices approached a six-week high and Fed rate cut expectations heated up significantly, with the Hong Kong gold sector performing actively overall.

This analysis is based on the popular stock information released by Tushare dc_hot (East Money App Hong Kong Stock Market Popularity Ranking) [1], conducting a comprehensive assessment of the rising popularity of Zijin Gold International (02259.HK). Core driving factors include the international gold price breaking through the recent high of $4200/oz [4][5], over 87% market expectation probability of Fed rate cut in December [6], collective strength of the gold sector, and market attention and speculative interest brought by the new stock listing [2][3][5]. As of intraday trading on December 2, 2025, the stock rose 8.35% to close at HK$137.5. Despite the strong current performance, potential risks such as gold price fluctuations, limited fundamental information about the new stock, and short-term speculation-driven growth should still be noted.

Zijin Gold International (02259.HK) is a newly listed company in the gold and precious metals sector, with a current stock price of HK$137.5 [3]. In the same period, the international spot gold price broke through $4200/oz, approaching the six-week high of $4264.28/oz [4][5]; domestic gold T+D trading maintained a strong support level around 955 yuan/g [5].

1. Gold Price Rise
   : The international gold price breaking through key levels directly boosted the profit expectations of gold-related enterprises, becoming the core support for the gold stock market.
2. Fed Rate Cut Expectations
   : Over 87% of market participants expect the Fed to implement a rate cut in December [6]. A lower interest rate environment reduces the opportunity cost of holding non-income-generating assets (such as gold), further driving up gold prices and the gold sector.
3. Sector Linkage Effect
   : Hong Kong gold stocks have performed strongly overall recently, and domestic gold ETF (517400) also recorded a 3.08% increase on December 1 [6]. Zijin Gold International benefited synchronously from the sector trend.
4. New Stock Effect
   : As a newly listed company, Zijin Gold International attracted widespread investor attention and speculative interest with its “new stock” attribute [2].

As of intraday trading on December 2, 2025, Zijin Gold International rose 8.35% to HK$137.5 [3], with an increase of over 2% earlier in the day [5]. As a newly listed company, historical volume data is limited, but as a popular stock, the daily volume is expected to be significantly higher than the average level. Compared with the 3.08% increase of domestic gold ETF (517400) on December 1, this stock’s increase is more significant, which may be related to the new stock effect and investors’ brand recognition of Zijin Group.

1. Cross-domain Correlation
   : Fed monetary policy (interest rate expectations) is highly correlated with the value of gold assets. Rate cut expectations directly transmit to gold prices and gold stocks by reducing the opportunity cost of non-income assets, forming a linkage chain of monetary policy → asset pricing → stock price performance.
2. New Stock Attribute Advantages
   : The increase of Zijin Gold International is significantly higher than the sector average. In addition to market environment factors, the liquidity premium of new stocks and investors’ brand recognition of Zijin Group may be important reasons.
3. Consistency of Market Sentiment
   : Both institutions and investors are optimistic about the medium-term upward trend of gold [5][6]. This consistent sentiment strengthens the sector trend and provides additional support for the popularity of Zijin Gold International.

• Gold Price Fluctuation Risk
  : Gold prices are affected by various factors such as interest rate changes, US dollar trends, and geopolitical situations. If the Fed rate cut expectations weaken or the US dollar strengthens, gold prices may correct, thereby affecting the performance of this stock.
• New Stock Risk
  : As a newly listed company, Zijin Gold International may not have sufficient disclosure of fundamental information, and investors lack comprehensive basis for decision-making.
• Short-term Speculation Risk
  : The stock’s rise may be partially driven by short-term speculation rather than fully based on fundamentals. If market sentiment reverses, it may lead to significant fluctuations in stock prices.

• If the Fed implements a rate cut as scheduled, gold prices and the gold sector are expected to continue to benefit, and this stock may continue its upward trend.
• If Zijin Gold International discloses good fundamental information in the future or has long-term growth potential, it may attract the attention of long-term investors.

##5. Key Information Summary
The rising popularity of Zijin Gold International (02259.HK) is the result of multiple factors, including rising gold prices, Fed rate cut expectations, strong performance of the gold sector, and the new stock effect. As of intraday trading on December2,2025, the stock was at HK$137.5 with an increase of8.35%. Investors should pay attention to the Fed’s monetary policy resolution, the subsequent trend of gold prices, and the disclosure of the company’s fundamental information, and carefully evaluate potential risks and opportunities.