On June 18, Zijin Gold International fell 3.22% in regular trading, trading at 115.9 HKD/share, with turnover of 143 million HKD. The decline extends a multi-session selloff in the gold sector driven by macro headwinds and intensifying bearish positioning.
On the news front, spot gold has broken below the key $4,200 level, retreating over 20% from its yearly high. US May CPI came in at 4.2% year-over-year, pushing the probability of a December Fed rate hike to 72%. The strong US dollar and elevated Treasury yields continue to suppress valuations for non-yielding gold assets. Meanwhile, short selling data shows Zijin Gold International's short ratio has climbed to 20.3%, deviating 72.29% from its 30-day average, indicating significantly increased bearish pressure. The world's largest gold ETF, SPDR Gold Trust, has reduced holdings to 1,019.92 tonnes, a yearly low.
Within the Gold sector, Zijin Mining fell 0.42%, China Gold International fell 2.28%, Zhaojin Mining fell 2.9%, Lingbao Gold fell 2.19%, and Chifeng Gold fell 1.25%.
(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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