Movement Alert|CHIFENG GOLD Rises 3.17% in Regular Trading, Gold Sector Rebounds as Market Eyes Fed Decision

Market Focus07-29

On July 29, CHIFENG GOLD rose 3.17% in regular trading, trading at 32.6 HKD/share, with turnover of HKD 138 million. The gold sector staged a broad recovery, with the stock rebounding from the prior session's pullback triggered by easing geopolitical tensions.

On the news front, market attention is centered on this week's Federal Reserve rate decision. Meanwhile, China's central bank has increased gold reserves for the 20th consecutive month to 75.44 million ounces. Goldman Sachs noted that central bank buying is expected to provide floor support for gold prices. Sector peers also advanced, with Lingbao Gold up 2.28%, Zijin Gold International up 2.01%, China Gold International up 2.15%, and Zhaojin Mining up 1.66%.

On fundamentals, the company expects H1 attributable net profit of RMB 1.7 billion to 1.78 billion, a year-on-year increase of 54% to 61%, driven by an approximately 43% rise in average gold selling prices. Additionally, Zijin Mining plans a strategic investment that would result in an indirect stake of approximately 25.85%.

(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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