Movement Alert｜Chifeng Gold Falls 5.04% in Regular Trading, Gold Price Breaks Below $4150 as Fed Hawkish Stance Triggers Sector-Wide Selloff

Market Focus06-23

On June 23, Chifeng Gold fell 5.04% in regular trading, trading at 25.32 HKD/share, with turnover of 82.60 million HKD.

On the news front, spot gold plunged in Asian trading hours, breaking below the $4150/oz level after failing to hold the critical $4200 support, with short sellers continuing to dominate. New Fed Chair Wosh delivered an explicitly hawkish signal at his first policy meeting, with 9 officials projecting at least one rate hike this year, sending December hike probability surging to 83%. Goldman Sachs simultaneously cut its year-end gold price target by $500/oz to $4900. Additionally, JPMorgan reduced its stake in Chifeng Gold by 1.1966 million shares on June 12 at approximately 27.13 HKD per share, lowering its holding from 7.15% to 6.64%.

The gold sector saw broad-based declines, with Zijin Gold International down 6.83%, China Gold International down 6.70%, Zijin Mining down 5.69%, SD Gold down 4.32%, and Zhaojin Mining down 3.91%.

(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.

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