On June 29, Zhaojin Mining rose 3.06% in regular trading, trading at 17.02 HKD/share, with turnover of approximately 55.28 million HKD.
On the news front, the World Gold Council survey revealed that 45% of surveyed central banks plan to increase gold reserves over the next 12 months, marking the highest proportion since the survey launched in 2018, with only 1% planning to reduce holdings. This sustained central bank purchasing demand provides medium-to-long-term support for gold prices. Meanwhile, CICC recently noted that the current gold correction does not signal the end of the bull market, suggesting a turning point may be imminent as U.S. inflation likely peaked and monetary tightening expectations may be overstated.
At the sector level, gold stocks broadly recovered, with China Gold International rising 3.1%, Shandong Gold up 0.69%, and Zijin Mining gaining 0.36%. Zhaojin Mining had previously accumulated significant losses due to the full production halt at its Zhaoyuan headquarters mines following a safety incident on May 14, combined with gold prices retreating nearly 30% from historic highs. The stock currently exhibits oversold rebound momentum following this extended decline.
(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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