Movement Alert|Lingbao Gold Falls 6.45% in Regular Trading, Investment Banks Collectively Cut Gold Price Forecasts Pressuring Gold Sector

Market Focus06-25

On June 25, Lingbao Gold fell 6.45% in regular trading, trading at HK$11.97/share, with turnover of HK$43.50 million. The decline came amid a broad selloff in gold stocks triggered by Wall Street investment banks collectively downgrading gold price targets.

On the macro front, the Fed's dot plot released hawkish signals, with the US dollar index breaking above the 100 level, while spot gold dropped to $4,068/oz. Goldman Sachs cut its year-end gold price target to $4,900/oz, and Deutsche Bank projected gold could fall to $3,800/oz under extreme scenarios. The collective downgrade in expectations intensified selling pressure across the sector. Among peers, Zhaojin Mining fell 7.02%, SD Gold fell 6.47%, Zijin Gold International fell 5.95%, and Chifeng Gold fell 5.44%.

The company's controlling shareholder Wang Guanran announced a plan to acquire up to 16 million H shares over the next 12 months, while the company has also conducted consecutive share buybacks to signal support for its stock price.

(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