Movement Alert|Chifeng Gold Falls 3.17% in Regular Trading, Gold Sector Remains Under Pressure as Strong Dollar and Fed Rate Hike Expectations Weigh on Prices

Market Focus06-03

On June 3, Chifeng Gold fell 3.17% in regular trading, trading at HK$30.5/share, with trading volume of approximately HK$50.47 million.

On the macro front, US Treasury yields have climbed to near 19-year highs, with a persistently strong US dollar exerting direct pressure on dollar-denominated gold prices. Market expectations for a Fed rate hike within the year have risen to approximately 50%, continuing to weigh on gold sector valuations. The broader gold sector remained weak, with Lingbao Gold down 4.42%, Zhaojin Mining down 1.58%, China Gold International down 1.02%, Zijin Gold International down 0.32%, and Zijin Mining down 0.29%.

At the company level, Chifeng Gold recently announced that its gold production failed to meet performance assessment targets, prompting the early termination of its third employee stock ownership plan. The company plans to repurchase and cancel approximately 15.18 million A-shares, representing about 0.80% of total share capital. Market sentiment is still digesting this development in the near term.

(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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