From an asset allocation perspective, $ZIJIN GOLD INTL(02259.HK) is a risk hedging tool. Hong Kong stocks are prone to pullbacks when encountering macro volatility, and gold stocks can act as a buffer at such times. With many global uncertainties now, capital is willing to pay for certainty. Mining companies are different from physical gold; they have operating leverage but also have cash flow support. The key is not how much they can rise, but their role in the portfolio.
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