On July 17, Lingbao Gold declined 5.32% in regular trading, trading at approximately HKD 15.02 with turnover of HKD 154 million. The gold sector came under broad selling pressure, with gains triggered in the prior session by weaker-than-expected US June CPI and PPI data nearly fully reversed.
The previous trading day saw gold stocks rally broadly as softer inflation readings dampened expectations for a Fed rate hike, boosting rate cut bets. However, the sector gave back those gains entirely on July 17. Industry peers suffered steep losses, with Chifeng Gold falling 10.27%, Zhaojin Mining down 8.43%, Zijin Gold International losing 6.38%, China Gold International declining 5.69%, and Zijin Mining dropping 4.73%.
Gold mining stocks have exhibited sharp volatility in recent sessions amid the interplay of US-Iran geopolitical tensions, fluctuating Fed policy expectations, and wide-ranging gold price swings, with the sector repeatedly posting large single-day gains followed by equally sharp reversals the next day.
(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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