Stock Track | Zijin Gold International Plummets 5.14% Intraday on Fed Hawkishness and Gold Price Retreat

Stock Track05-28

Zijin Gold International's stock plummeted 5.14% during intraday trading, extending recent losses in the gold sector.

The decline follows hawkish signals from the new Federal Reserve Chair, which increased expectations for interest rate hikes. According to market analysis, the probability of a 25-basis-point rate hike within the year surged to 67.1%, raising the opportunity cost of holding non-yielding gold assets. Additionally, renewed tensions in the Middle East have pushed oil prices higher, reigniting inflation concerns and further reinforcing expectations for tighter monetary policy.

These factors created dual headwinds for gold prices, contributing to a broader decline across the gold mining sector during the trading session.

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