Movement Alert|Chifeng Gold Falls 3.53% in Regular Trading, Gold Sector Under Pressure for Second Straight Day as Strong Dollar Weighs on Bullion

Market Focus05-28

On May 28, Chifeng Gold fell 3.53% in regular trading, trading at HK$31.86/share, with trading volume of approximately HK$11.95 million.

On the news front, the gold sector is under pressure for a second consecutive day, with broad-based declines across mining stocks. US Treasury yields have climbed to near 19-year highs, while a strengthening US dollar continues to suppress dollar-denominated gold prices. Market expectations for a Federal Reserve rate hike have approached 60%, persistently weighing on gold sector valuations. Additionally, the company completed its ex-dividend adjustment on May 27, distributing a cash dividend of RMB 0.32 per share (tax inclusive), and the stock remains in a post-ex-dividend adjustment phase.

Within the Gold sector, the overall sector is broadly weaker. Among individual stocks, Lingbao Gold down 5.53%, China Gold International down 4.24%, Zijin Gold International down 3.01%, Zhaojin Mining down 2.79%, Zijin Mining down 2.11%.

(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.)

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