Gold Stocks Under Continued Pressure; CHI SILVER GP Leads Declines

Stock News15:34

Gold-related stocks remain under selling pressure. At the time of writing, CHI SILVER GP (00815) fell 6.33% to HK$0.37. EVEREST GOLD (01815) dropped 2.41% to HK$0.81. SD GOLD (01787) declined 2.24% to HK$24.44. ZIJIN GOLD INTL (02259) decreased 1.51% to HK$137. The downward movement follows a report from Citi expressing caution towards the short-term outlook for gold. The bank cited reduced investor buying due to the prolonged closure of the Strait of Hormuz and elevated energy prices, driven by market concerns over risk-off selling, a pattern consistent with gold's historical behavior. Citi set a 0-3 month gold price target of $4,300 per ounce, noting that a significant risk-off event could push prices substantially lower.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment