Movement Alert｜Zijin Mining Falls 3.1% in Regular Trading, Gold Sector Extends Profit-Taking for Second Consecutive Day

Market Focus05-28

On May 28, Zijin Mining fell 3.1% in regular trading, trading at 33.18 HKD/share, with trading volume of 234 million HKD. The gold sector continued to weaken for a second straight session as funds locked in gains following last week's sharp rally driven by US-Iran negotiations in Doha.

The broader gold sector saw widespread declines, with Lingbao Gold down 6.39%, Chifeng Gold down 4.63%, Zijin Gold International down 4.26%, Zhaojin Mining down 3.92%, and China Gold International down 3.37%. Spot gold had previously surged 1.4% to 4,570 USD/oz as prospects of the Strait of Hormuz reopening crushed oil prices and weakened the US dollar, but subsequent sessions saw aggressive profit-taking across the board.

Despite S&P Global Ratings this week affirming Zijin Mining's BBB rating and raising the outlook to positive, citing expectations of rising output and a debt-to-EBITDA ratio declining to 0.9-1.0x, the market remained focused on digesting prior gains. The stock had rallied over 5% on May 26 before retreating approximately 3.1% on May 27, and today's decline represents a continuation of that technical correction.

(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.

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