Movement Alert|CHIFENG GOLD Rises 3.82% in Regular Trading, Gold Sector Extends Recovery as Market Eyes Fed Rate Decision

Market Focus07-30

On July 30, CHIFENG GOLD rose 3.82% in regular trading, trading at 34.16 HKD/share, with turnover of approximately 45.97 million HKD.

On the news front, the gold sector extended its recovery momentum with broad-based gains. Market attention is focused on the upcoming Fed interest rate decision this week. Meanwhile, China's central bank has increased its gold holdings for the 20th consecutive month, bringing reserves to 75.44 million ounces with an addition of 480,000 ounces in June. Goldman Sachs noted that central bank buying is expected to provide floor support for gold prices, underpinning the sector's ongoing technical repair.

Within the Gold sector, Zijin Gold International rose 3.99%, Lingbao Gold gained 3.16%, China Gold International advanced 2.95%, Zhaojin Mining climbed 2.58%, and Zijin Mining edged up 0.98%. On the fundamental side, the company expects first-half attributable net profit of 1.70 billion to 1.78 billion yuan, representing year-over-year growth of 54% to 61%, driven by an approximately 43% increase in the average gold selling 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.)

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