Movement Alert|Zhaojin Mining Falls 3.4% in Regular Trading, Strong US Non-Farm Data and Mine Shutdown Continue to Pressure Gold Sector

Market Focus06-11

On June 11, Zhaojin Mining fell 3.4% in regular trading, trading at 18.46 HKD/share, with trading volume of 46.10 million HKD.

On the news front, US May non-farm payrolls surged to 172,000, far exceeding the market expectation of 85,000. Market pricing for a Fed rate hike within the year has risen sharply, with spot gold breaking below $4,190/oz to hit a two-and-a-half-month low, intensifying selling pressure across the precious metals sector. The stronger dollar and elevated rate expectations are raising the opportunity cost of holding non-yielding gold assets.

At the company level, Zhaojin Mining's core mines in Zhaoyuan have been under full production suspension since May 14 for safety inspections following a fatal cage-fall accident at Canzhuang Gold Mine that killed seven workers. The affected operations include Xiadian, Dayingezhuang, Canzhuang, and Jintingling mines, with short-term output losses adding further downside pressure.

Within the Gold sector, the broader group declined in tandem. Among individual stocks, Zijin Mining down 3.57%, Zijin Gold International down 2.42%, Lingbao Gold down 2.44%, SD Gold down 0.95%, China Gold International down 2.19%.

(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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