On August 6, SD GOLD rose 6.27% in regular trading, trading at 22.84 HKD/share, with turnover of 90.96 million HKD. The gold sector rallied broadly, with spot gold continuing to climb after breaking above $4,100/oz, now targeting $4,300.
The rally was primarily driven by significantly weaker-than-expected US July ADP employment data, which showed only 44,000 new jobs added, sharply reinforcing market expectations for a Fed rate pause in September and potential future rate cuts. The 10-year TIPS real yield declined rapidly, reducing the opportunity cost of holding gold, while the US Dollar Index fell below 100, further boosting dollar-denominated gold prices. Technical analysis indicates gold broke above the $4,205/oz long-term range resistance on heavy volume, with short-term moving averages forming a bullish alignment.
Within the Gold sector, peers also posted strong gains: LINGBAO GOLD up 8.53%, ZIJIN GOLD INTL up 5.35%, ZHAOJIN MINING up 5.45%, CHINAGOLDINTL up 3.89%, and ZIJIN MINING up 3.3%.
(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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