Movement Alert|Zijin Gold International Falls 3.26% in Regular Trading, Rate Hike Expectations and Rising Short-Selling Pressure Weigh on Gold Sector

Market Focus06-17

On June 17, Zijin Gold International fell 3.26% in regular trading, trading at HKD 116.1/share, with turnover of HKD 412 million. The decline reflects continued pressure on the gold sector from multiple macro headwinds.

On the news front, spot gold has lost the $4,200/oz level, retreating over 20% from its yearly high. The US May CPI came in at 4.2% year-over-year, pushing the probability of a December Fed rate hike to 72%. The strong US dollar index and elevated Treasury yields continue to suppress the valuation of non-yielding gold assets. Additionally, the short-selling ratio for Zijin Gold International recently climbed to 20.3%, deviating 72.29% from its 30-day average, indicating significantly intensified bearish positioning.

Within the Gold sector, weakness was broad-based. Among peers, Zijin Mining fell 0.12%, Zhaojin Mining fell 2.04%, Lingbao Gold fell 0.71%, SD Gold fell 1.48%, while China Gold International edged up 0.13%.

(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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