Movement Alert|ZHAOJIN MINING Falls 3.08% in Regular Trading, Fed Rate Hike Aftershocks Continue to Pressure Gold Stocks

Market Focus09-18 11:00

On September 18, ZHAOJIN MINING fell 3.08% in regular trading, trading at 19.83 HKD/share, with turnover of HKD 159 million, extending the prior session's sharp selloff driven by the U.S. Federal Reserve's rate decision.

On the news front, the Fed announced a 25-basis-point rate hike in the early hours of September 17, lifting the federal funds rate to 3.75%–4.00% — its first increase since July 2023. The decision was unanimous at 12-0. More critically, the dot plot revealed that 12 of 18 officials projected cumulative hikes of 50 basis points this year, signaling at least one more hike ahead — a stance more hawkish than the market had anticipated. The 10-year U.S. Treasury yield hovered near the 5% mark, its highest since 2007, while the dollar index strengthened, significantly raising the opportunity cost of holding non-yielding gold. Spot gold briefly broke below $4,300/oz before partially recovering.

Within the Gold sector, performance was mixed. Among peers, SD GOLD fell 2.92%, LINGBAO GOLD fell 1.25%, while CHINAGOLDINTL rose 1.13%, ZIJIN GOLD INTL rose 0.71%, and TONGGUAN GOLD rose 3.11%.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment