Zijin Gold IPO explodes +64.8% on day one China’s biggest gold miner just spun off its global arm in Hong Kong, the largest IPO since May 2025.
Investor demand for gold is going vertical Zijin Gold shares surged over 60% Tuesday as the Chinese miner’s international unit made its trading debut in Hong Kong. The company had raised nearly 25 billion Hong Kong dollars (about $3.2 billion) with shares priced at HKD$71.59 apiece, making it the world’s second-largest initial public offering after battery giant CATL’s listing earlier this year. Zijin Gold’s debut, which was delayed by a day due to the impact of Super Typhoon Ragasa on Hong Kong last week, comes at a time when the yellow metal has been notching record highs amid strong safe-haven demand, expectations of rate cuts, and global economic uncertainty. Source: CNBC, Wall Street Gold on X
Gold & Future of defence $NATO ETF
Source: Ole S Hansen
Gold was 21% of global assets in 1980. Today it's 5%
The financial universe got 4X bigger. Stocks, bonds, derivatives, crypto Sometimes the denominator is the story Source: Katsua Research
Gold and Digital Gold aka bitcoin are diverging.
Does it signal troubles ahead for cryptos? Note this is not the first time it happens, including in 2025 Source: HolgerZ, Bloomberg
Central Banks are buying MASSIVE amounts of gold:
In July, world central banks acquired 48 tonnes of gold, above 2024 figures, according to Goldman Sachs estimates. Year-to-date, central banks have bought an average of 64 tonnes of gold per month. Gold demand is strong. Source: Global Markets Investor, Goldman Sachs
Gold hits most overbought level on the monthly chart in 45 years.
But beware, an asset can stay overbought during a long period of times in a bull run. And the market isn't speculating; it's rationally repricing the metal for a new era of fiscal dominance, negative real yields, and de-dollarization. Source: Barchart
Gold is on pace for its best year since 1979, up over 42% in 2025.
Source: Charlie Bilello
The gold price is rising again.
It fell back briefly after last week's Fed, as markets digested a more complicated meeting than they had hoped for. But now we're back off to the races and gold is resuming its rise. As rightly put by Robin Brooks, "the world is running out of safe havens. Gold is the winner..." Source: Robin Brooks
