On May 27, Zijin Gold International fell 3.39% in regular trading, trading at 134.2 HKD/share, with trading volume of HKD 61.25 million. The decline came as spot gold tumbled 1.38% overnight to around $4,507/oz, dragging the broader gold mining sector lower.
On the news front, newly inaugurated Fed Chair Wosh delivered hawkish signals shortly after taking office. The CME FedWatch tool now shows the probability of a 25-basis-point rate hike by year-end has surged to 67.1%, significantly raising the opportunity cost of holding non-yielding gold in a high-rate environment. Simultaneously, recurring Middle East conflicts have driven oil prices higher, reigniting inflation concerns and further reinforcing rate hike expectations, creating dual headwinds for gold prices. UBS has cut its year-end gold price target by $400 to $5,500, citing rising yields and a stronger dollar.
Within the Gold sector, the broader group declined in tandem. Among individual stocks, Zijin Mining down 1.81%, Lingbao Gold down 5.57%, Chifeng Gold down 5.10%, Zhaojin Mining down 1.03%, and China Gold International down 2.01%.
(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