On July 24, SD GOLD fell 3.74% in regular trading, trading at 19.1 HKD/share, with turnover of 17.232 million HKD.
On the news front, a proposed US-Iran 10-day ceasefire continued to gain traction, boosting market expectations for de-escalation of geopolitical conflicts. Safe-haven funds that had previously flowed into gold showed signs of retreat, with the war premium unwinding and pressuring gold prices. Simultaneously, Fed Chair Wosh maintained a hawkish zero-tolerance stance on elevated inflation, with the swap market now pricing in at least one rate hike by year-end, pushing real rates higher and raising the opportunity cost of holding gold.
The gold sector came under broad selling pressure. Within the Gold sector, LINGBAO GOLD fell 5.53%, CHINAGOLDINTL fell 5.48%, CHIFENG GOLD fell 5.12%, ZIJIN GOLD INTL fell 4.85%, and ZIJIN MINING fell 3.94%.
(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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