Movement Alert|Shandong Gold Mining Falls 3.18% in Regular Trading, Gold Price Breaks Below $4000 Amid Fed Rate Hike Expectations

Market Focus06-26

On June 26, Shandong Gold Mining fell 3.18% in regular trading, trading at HKD 17.03/share, with turnover of HKD 104 million.

On the news front, spot gold broke below the $4,000/oz psychological level, hitting a seven-month low and potentially marking a fourth consecutive weekly decline. US May CPI rose to 4.2% year-over-year, breaching the 4% threshold for the first time in three years. Fed officials collectively signaled hawkish intent, with markets pricing in three rate hikes this year and September hike probability rising to approximately 63%. The US dollar index strengthened for a second consecutive week, continuing to pressure non-yielding gold assets. Goldman Sachs previously slashed its year-end gold price target by $500 to $4,900/oz.

Within the Gold sector, peers declined broadly: China Gold International down 3.98%, Zijin Gold International down 3.39%, Zhaojin Mining down 2.64%, Zijin Mining down 1.21%, and Lingbao Gold down 0.91%.

(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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