On June 25, China Gold International fell 5.35% in regular trading, trading at 121.2 HKD/share, with turnover of 18.69 million HKD.
On the news front, international gold prices plunged 2.7% on June 24, breaking below the critical $4,000/oz level to hit a seven-month low near $3,959. Multiple major investment banks collectively downgraded their gold price forecasts — Deutsche Bank cut its Q3 gold price target by over 20% to $4,300, while Goldman Sachs lowered its year-end target by $500 to $4,900. BMO also revised expectations downward. Continued net outflows from gold ETFs further weighed on sentiment.
The broader gold sector came under heavy selling pressure. Within the Gold sector, Lingbao Gold fell 6.76%, Zhaojin Mining fell 6.64%, SD Gold fell 6.26%, Zijin Gold International fell 5.65%, and Zijin Mining fell 4.55%. The persistent hawkish stance from the Fed, with the dot plot signaling year-end rates at 3.8%, continues to elevate the opportunity cost of holding non-yielding assets like gold, compounding downside risks across the sector.
(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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