The Hong Kong Gold Exchange (HKGX) held its Lunar New Year opening ceremony this morning (20th). The local gold market opened higher on the first trading day of the Year of the Horse, with the opening price of 99 gold at HKD46,518 per tael.Haywood Cheung, Chairman of the HKGX, projected that the gold price has laid a solid foundation over the past few years and is now in the early to mid-stage of a bull market. If a US-Iran war occurs, gold price may adjust slightly before rising again, with expectations to challenge the level of USD6,000 per ounce in 2Q26 and 3Q26.Related News Jefferies Lowers TP for Meitu (01357.HK) to HKD7, Maintains 'Buy' RatingBesides, the HKGX, and BABA-W (09988.HK) -4.200 (-3.423%) Short selling $1.80B; Ratio 62.850% 's member company AGTECH HOLDINGS (08279.HK) -0.020 (-3.279%) Short selling $166.52K; Ratio 24.342% , had announced last month a collaboration to develop an international precious metals trading platform and settlement system, as well as a digital commodity blockchain, including spot, futures, digital gold, B2C trading, clearing center OTC trading, so as to unify risk control, and regulate all systems.(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-04-02 16:25.)
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