Understanding the Market | GT GOLD rises over 8% as non-farm data disappoints, gold welcomes a strong rebound, acquisition of the Ning Shan gold mine enhances mineral resource portfolio

According to Zhitong Finance APP, GT GOLD (08299) rose over 8%, as of the time of publication, up 8.33% to HKD 0.325, with a trading volume of HKD 4.0774 million.

On the news front, driven by disappointing non-farm data and easing market concerns about U.S. inflation, spot gold rebounded above USD 4,170. The U.S. Bureau of Labor Statistics reported that non-farm employment in June increased by 57,000, far below the market expectation of 110,000, marking the lowest level in nearly four months; the data for April and May was revised down by a total of 74,000. The unemployment rate unexpectedly dropped to 4.2% in June, the lowest level since June 2025, with an expectation of 4.3%. Following the data release, traders fully priced in that the Federal Reserve's interest rate hike would be delayed until December of this year.

It is worth mentioning that GT GOLD recently released its annual performance report for the year ending in March. During the reporting period, the company achieved revenue of HKD 1.966 billion, a year-on-year increase of 49.62%; the profit attributable to the company's owners was HKD 94.878 million, a year-on-year increase of 42.57%. In addition, GT GOLD announced the completion of a significant transaction regarding the acquisition of two project companies in Ning Shan County, Shaanxi Province, stating that all conditions precedent to the agreement have been met, and the completion was finalized on June 29, 2026. Upon completion, the target company will become a wholly-owned subsidiary of the company, and its financial performance will be consolidated into the group's financial statements