On September 17, ZHAOJIN MINING fell 3.77% in regular trading, trading at HK$20.34/share, with turnover of HK$28.85 million. The decline came amid broad-based selling across the gold sector following the Federal Reserve's rate decision.
On the news front, the Fed unanimously approved a 25 basis point rate hike at its FOMC meeting, lifting the federal funds rate target range to 3.75%-4.00%, the first increase since July 2023. The dot plot further signaled the possibility of one additional hike before year-end. The decision followed weeks of building expectations, as the 10-year US Treasury yield had already breached 5% and spot gold lost the $4,300/oz level earlier in the week. The confirmed tightening move reinforced strong-dollar dynamics and elevated the opportunity cost of holding non-yielding assets such as gold, intensifying downward pressure on the precious metals complex.
Within the Gold sector, declines were broad-based. SD GOLD fell 4.96%, LINGBAO GOLD dropped 4.37%, CHINAGOLDINTL declined 3.90%, ZIJIN GOLD INTL lost 3.71%, and CHIFENG GOLD slipped 3.30%.
(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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