Movement Alert｜CHINAGOLDINTL Falls 3.09% in Regular Trading, Fed Rate Hike Expectations and Weak Gold Prices Weigh on Mining Sector

Market Focus10-02

On October 2, CHINAGOLDINTL fell 3.09% in regular trading, trading at HKD 213.6/share, with turnover of HKD 76.87 million.

On the news front, following the Fed's 25-basis-point rate hike in September, the latest dot plot signaled at least one additional hike before year-end. The U.S. dollar index broke above the 100 level while the 10-year Treasury yield remained elevated, with rising real interest rates continuing to suppress gold prices. International spot gold has been oscillating near $4,200/oz lows, directly weighing on mining stock valuations.

The gold sector declined broadly, with peer stocks showing notable sector-wide weakness. Among individual stocks in the Gold sector, Zijin Gold International down 0.07%, Zhaojin Mining down 2.88%, SD Gold down 2.98%, Lingbao Gold down 2.17%, and Chifeng Gold down 3.14%.

CHINAGOLDINTL is a gold and base metals mining company operating two mines in China — the CSH Gold Mine in Inner Mongolia and the Jiama copper-gold polymetallic mine in Tibet.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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