On May 28, Zijin Gold International fell 3.3% in regular trading, trading at 132.4 HKD/share, with trading volume of HKD 44.89 million. The stock extended losses from the prior session amid continued pressure on the gold sector.
On the news front, spot gold tumbled 1.38% overnight to around $4,507 as the new Fed Chair released hawkish signals. The CME FedWatch tool shows the probability of a 25-basis-point rate hike within the year has surged to 67.1%, raising the opportunity cost of holding non-yielding gold. Meanwhile, renewed Middle East tensions have pushed oil prices higher, reigniting inflation concerns and further reinforcing rate hike expectations, creating dual headwinds for gold prices.
Within the Gold sector, the broader group declined in tandem. Among peers, Lingbao Gold fell 5.3%, China Gold International fell 4.24%, Chifeng Gold fell 3.77%, Zhaojin Mining fell 2.96%, and Zijin Mining fell 2.28%. Market commentary noted that technical selling pressure compounded macro headwinds, though medium-term support from central bank gold purchases and de-dollarization trends remains intact.
(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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