Zijin Gold shares surged over 60% Tuesday as the Chinese miner made its trading debut in Hong Kong following a strong initial public offering.

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 IPO 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.

Gold prices have been picking up steam in recent weeks, which was "good timing" for Zijin Gold, said Theodore Shou, chief investment officer at Skybound Capital.

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