On June 15, Zijin Gold International surged 11.93% in regular trading, trading at HKD 117.0/share, with turnover of HKD 580 million. The stock rebounded sharply from its listing low of HKD 98.3 hit earlier this month.
The rally was driven by a dramatic de-escalation in US-Iran tensions. President Trump announced the cancellation of planned strikes against Iran, stating that an Iran nuclear agreement had been approved and a comprehensive memorandum of understanding was near completion. He also indicated that the Strait of Hormuz would reopen immediately upon signing. Spot gold reclaimed the USD 4,200/oz level, rebounding over 3% from recent lows after having declined approximately 20% year-to-date.
The broader gold sector rallied in tandem. Zijin Mining rose 8.34%, Lingbao Gold gained 7.15%, China Gold International added 6.92%, Zhaojin Mining climbed 6.79%, and Chifeng Gold advanced 6.5%. The sector had previously experienced sustained selling pressure amid elevated US rate hike expectations and continuous ETF outflows, with SPDR Gold Trust holdings falling to annual lows.
(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.)
Comments