Movement Alert|Chifeng Gold Falls 3.07% in Regular Trading, Fed Rate Hike Expectations Heat Up as Gold Sector Under Broad Pressure

Market Focus06-04 14:23

On June 4, Chifeng Gold fell 3.07% in regular trading, trading at HKD 29.74/share, with trading volume of HKD 65.05 million.

On the macro front, US April job openings surged to 7.62 million, hitting a near two-year high, fueling expectations of a Fed rate hike. US Treasury yields climbed to near 19-year highs, driving USD strength that directly pressured dollar-denominated gold prices, with spot gold losing the $4,470/oz level. The entire gold sector declined in tandem, with Zijin Gold International down 4.96%, Zhaojin Mining down 3.84%, SD Gold down 3.80%, Lingbao Gold down 3.34%, and Zijin Mining down 3.33%.

At the company level, Chifeng Gold previously announced the early termination of its third employee stock ownership plan due to gold production failing to meet performance targets, with plans to repurchase and cancel approximately 15.18 million A-shares, representing about 0.80% of total share capital. Market sentiment continues to digest this negative development in the near term.

(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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