Movement Alert|Shandong Gold Falls 3.05% in Regular Trading, US-Iran Tensions and Rate Hike Expectations Weigh on Gold Sector

Market Focus07-15

On July 15, Shandong Gold fell 3.05% in regular trading, trading at HKD 17.82/share, with turnover of HKD 61.23 million.

On the news front, the gold sector extended its systematic pullback as escalating US-Iran tensions converged with rising Fed rate hike expectations. The US announced the resumption of port blockades against Iran and imposed a 20% transit fee on goods passing through the Strait of Hormuz, sending oil prices surging and reigniting inflation concerns. Fed Governor Waller issued a strongly hawkish signal, stating that further elevated core inflation data could necessitate a near-term rate hike, with swap markets pricing in a 43% probability of a July increase. Spot gold broke below the key USD 4,000 level, while the US dollar and Treasury yields remained elevated, continuing to suppress precious metals valuations.

Within the Gold sector, stocks declined broadly. Zijin Mining fell 0.79%, Lingbao Gold fell 1.8%, Zijin Gold International fell 2.33%, China Gold International fell 1.01%, and Chifeng Gold fell 2.91%.

(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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