Movement Alert|Shandong Gold Falls 3.1% in Regular Trading, Gold Sector Retreats as Geopolitical Premium Fades Post US-Iran Ceasefire

Market Focus09:35

On May 28, Shandong Gold (01787.HK) fell 3.1% in regular trading, trading at HKD 24.32/share, with trading volume of HKD 9.35 million.

The decline comes amid a broad sector-wide pullback in gold stocks. On May 25, the US and Iran reached a ceasefire agreement in principle, with Hormuz Strait expected to resume navigation, sending international oil prices down over 5%. While the initial reaction on May 26 lifted gold stocks on weakened inflation expectations and a softer dollar, the fading of geopolitical risk premium is now weighing on the sector as safe-haven demand recedes.

Within the Gold sector, all major peers declined: Zijin Mining down 2.22%, China Gold International down 4.43%, Zijin Gold International down 3.3%, Lingbao Gold down 6.04%, and Zhaojin Mining down 2.96%. Technical indicators show the stock remains in a bearish trend with accelerating downside momentum, while capital flow data from recent sessions indicate sustained net outflows totaling over RMB 218 million over five trading days.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment