Movement Alert|Chifeng Gold Falls 3.39% in Regular Trading, Global Gold ETF Profit-Taking Continues to Weigh on Sector

Market Focus07-14

On July 14, Chifeng Gold fell 3.39% in regular trading, trading at 26.82 HKD/share, with turnover of 8.8279 million HKD. The gold sector extended its weakness as global gold ETF outflows and Fed rate hike expectations continued to suppress gold price rebound potential.

On the news front, the World Gold Council's latest report showed that global physical gold ETFs recorded a significant net outflow of $8.9 billion in June, with pronounced profit-taking in North American and Asian markets. Spot gold came under pressure near the $4,100 level, as repeated market gaming over the Fed's monetary policy path further dampened gold investment demand. The broader gold sector declined in tandem, with Zijin Gold International down 4.15%, SD Gold down 3.64%, Zijin Mining down 2.37%, China Gold International down 2.15%, and Lingbao Gold down 0.33%.

(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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