International gold prices approach $5000, why do A-share gold concept stocks hit the daily limit collectively

On January 23, 2026, A-shares’ gold concept stocks collectively surged, with China Gold, Yuguang Gold & Lead hitting the daily limit, Silver Mine Color achieved four consecutive limit-ups, and Hunan Silver, Shengda Resources, Xiaocheng Technology, Sichuan Gold, and others followed suit. Behind this rally is the continuous strength of international spot gold prices—silver broke through the $99 mark, and gold is less than $50 away from $5,000. Domestic gold jewelry prices also rose to over 1,450 yuan per gram, indicating a clear increase in the popularity of precious metal asset allocation.

International gold prices hit new highs, A-share gold stocks rally in succession

According to the latest news, the daily limit increases of A-share gold concept stocks are not isolated events but are directly reflected in the strong performance of the international precious metals market. When international gold prices approach historical highs, the profit margins of domestic listed companies’ gold businesses expand accordingly, and investor enthusiasm for related concept stocks also heats up.

Why is gold continuing to strengthen? Three main driving factors

Geopolitical tensions boost safe-haven demand

Global instability has become a key driver of gold prices. Escalating trade frictions between the US and Europe, tense situations in the Middle East, and ongoing power struggles among major countries all prompt global investors to view gold as a “safe haven.” In an environment of increased uncertainty, gold’s appeal as a hard currency significantly rises.

Central banks continue to stockpile gold, causing supply and demand imbalance

According to relevant information, China’s central bank has increased its gold holdings for 14 consecutive months, and 95% of central banks worldwide plan to continue purchasing. This means the available supply of tradable gold in the market is decreasing, while demand remains strong. China’s gold reserves are still below the global average, leaving room for further accumulation. The central bank’s persistent buying acts as a “stabilizer,” directly pushing up gold prices.

Expectations of Fed rate cuts strengthen

The Federal Reserve’s rate-cut cycle is about to begin, which means the interest income from holding US dollars will decline. Although gold does not generate interest, its anti-inflation advantage becomes more prominent in a rate-cut environment. Meanwhile, a weakening dollar also enhances the purchasing power of gold priced in USD.

Clear market logic, room for further gains remains

From the supply and demand perspective, the gold supply-demand gap in 2026 is expected to widen further. Mine gold production cannot significantly increase, while the enthusiasm of central banks, institutions, and retail investors continues to rise. This “more buyers, less supply” pattern makes gold prone to rising and difficult to fall.

According to relevant information, market outlooks are relatively optimistic. Experts predict spot gold may surge toward $4,950, and breaking the $5,000 barrier is not impossible. Although short-term fluctuations may occur, the long-term upward trend is unlikely to change. This also explains why A-shares’ gold concept stocks hit collective daily limits at this time—investors’ confidence in gold assets has already formed a consensus.

Summary

The collective daily limit increase of A-shares’ gold concept stocks reflects the market’s long-term optimism about precious metals. With international gold prices approaching $5,000, central banks continuing to stockpile gold, geopolitical risks persisting, and expectations of Fed rate cuts strengthening, these factors jointly drive gold to become the most sought-after safe-haven asset currently. The supply and demand imbalance is unlikely to change in the short term, which also means gold and related concept stocks may continue to maintain strength. For investors, the key is to understand the logic behind gold’s rise rather than blindly follow the trend.