Gold’s Record Run Is Minting Winners Beyond Bullion

Gold isn’t just shattering records in the commodities market — it’s minting them in equities, too.
Spot gold smashed through a new record above $3,800 an ounce on Tuesday, capping a relentless rally that has sent gold up 47% so far this year.
The latest gains have been fueled by fears of a US government shutdown and expectations of Federal Reserve interest rate cuts.
That backdrop set the stage for a blockbuster Tuesday debut by Zijin Gold International in Hong Kong. The company is the overseas arm of Zijing Mining, one of China’s top gold producers.
The miner’s shares jumped as much as 66% on their first day of trading, underscoring how investors are scrambling for equity exposure to the bull market in bullion.
The retail portion of Zijin Gold’s $3.2 billion IPO was oversubscribed 241 times, regulatory filings show.