Movement Alert|China Gold International Falls 5.72% in Regular Trading, High Interest Rate Expectations Continue to Suppress Gold Prices

Market Focus06-08

On June 8, China Gold International fell 5.72% in regular trading, trading at 141.2 HKD/share, with trading volume of 88.59 million HKD.

On the news front, spot gold continued its downward trajectory, breaking below $4,450/oz, as the blockbuster U.S. May non-farm payrolls report released on June 5 showed 172,000 new jobs — more than double the 85,000 consensus estimate. The data triggered a fundamental reversal in Fed monetary policy expectations, with markets now pricing in a potential rate hike by year-end. The U.S. dollar index surged above 100 while the 10-year Treasury yield climbed nearly 6 basis points to 4.541%, creating significant headwinds for non-yielding gold assets. Gold ETFs have seen net outflows exceeding 10 billion yuan over the past month.

Within the Gold sector, stocks fell broadly. Among peers, Lingbao Gold fell 6.63%, Zijin Gold International fell 5.71%, Zhaojin Mining fell 3.52%, Zijin Mining fell 3.4%, and SD Gold fell 2.49%.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment