Movement Alert|Chiefeng Gold Falls 3.09% in Regular Trading, Fed Rate Hike Expectations Continue to Weigh on Gold Sector

Market Focus06-05

On June 5, Chiefeng Gold fell 3.09% in regular trading, trading at HK$28.86/share, with trading volume of HK$72.63 million. This marks the fourth consecutive trading day of approximately 3% declines for the stock.

On the macro front, US May ADP employment data came in above expectations, compounding April job openings data that surged to 7.62 million — a near two-year high. These strong labor market signals have pushed Fed rate hike expectations higher, with US Treasury yields climbing to near 19-year highs. The strengthening US dollar continues to pressure dollar-denominated gold, with spot gold having fallen below the $4,470/oz level.

Within the Gold sector, stocks are broadly under pressure. Among peers, Zijin Mining is down 0.78%, Zijin Gold International down 1.26%, SD Gold down 2.78%, Zhaojin Mining down 1.94%, and China Gold International down 2.26%.

Additionally, the company previously announced the early termination of its third employee stock ownership plan due to gold production missing assessment targets, with plans to repurchase and cancel approximately 15.18 million A-shares (about 0.80% of total share capital). Market sentiment continues to digest this negative factor.

(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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