Movement Alert|China Gold International Falls 3.68% in Regular Trading, Fed Hawkish Signal Continues to Weigh on Gold Prices

Market Focus06-22 09:40

On June 22, China Gold International fell 3.68% in regular trading, trading at 140.0 HKD/share, with turnover of 39.18 million HKD.

On the news front, the Federal Reserve's June FOMC meeting delivered a clear hawkish signal, with the dot plot showing the median year-end rate rising to 3.8%. Nine out of 18 policymakers now expect at least one rate hike this year, sharply elevating market rate expectations. The US dollar rallied to a one-year high, directly pressuring gold prices. COMEX gold futures have retreated over 27% from their peak, with international gold breaking below the $4,200/oz level and continuing to weaken. As a non-yielding asset, gold faces significantly higher holding costs in a rising-rate environment, putting broad pressure on the sector.

Within the Gold sector, the overall sector declined sharply. Among individual stocks, Zijin Mining down 4.68%, Zijin Gold International down 3.01%, Zhaojin Mining down 4.75%, SD Gold down 4.66%, Lingbao Gold down 6.28%.

(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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