Movement Alert｜Shandong Gold Falls 4.99% in Regular Trading, Gold Price Breaks Below $4300 as Rate Hike Expectations Surge Amid Strong Non-Farm Data

On June 10, Shandong Gold (01787.HK) fell 4.99% in regular trading, trading at HK$21.2 per share, with trading volume of HK$18.48 million.

On the news front, international gold prices continued their correction, with spot gold breaking below the $4,300/oz level. The U.S. May non-farm payrolls surged by 172,000, nearly double the market expectation of 88,000 and well above April's 115,000. Following the data release, Goldman Sachs economists no longer expect the Fed to cut rates this year, pushing back their forecast for the final two rate cuts to June and December 2027. The 10-year U.S. Treasury yield spiked to 4.55%, pressuring gold prices significantly.

Additionally, the company previously announced that its wholly-owned subsidiary Shanjin Financial Holdings plans to transfer a 14.13% stake in Donghai Securities to Soochow Securities for approximately RMB 1.95 billion. The transaction will result in a fair value change loss of approximately RMB 705 million on its total 18.71% holding in Donghai Securities, directly reducing current-period total profit.

The broader gold sector declined in tandem, with Zijin Mining down 1.76%, Zijin Gold International down 4.61%, Zhaojin Mining down 4.54%, Chifeng Gold down 2.88%, and Lingbao Gold down 3.98%.

(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.)