On June 26, China Gold International fell 5.08% in regular trading, trading at 111.5 HKD/share, with turnover of 172 million HKD.
On the news front, international spot gold broke below the critical $4,000/oz psychological level, hitting a seven-month low. Spot gold has now retreated over 29% from its historical high earlier this year, officially entering a technical bear market. Multiple Wall Street investment banks collectively slashed their gold price forecasts — Goldman Sachs cut its year-end target by $500 to $4,900, Deutsche Bank lowered its Q3 forecast by over 22% to $4,300, and Bank of Montreal reduced its H2 average price forecast by 5% to $4,625. The Fed's hawkish signals, with the dot plot showing a year-end median rate of 3.8% and half of policymakers expecting at least one rate hike this year, have continued to strengthen the dollar and raise the holding cost of non-yielding gold assets. Gold ETFs have also seen sustained net outflows, adding broad sector pressure.
(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.)
Comments