Movement Alert|Zhaojin Mining Falls 3.04% in Regular Trading, Fed Hawkish Signals and Strong Dollar Weigh on Gold Sector

Market Focus06-03 14:33

On June 3, Zhaojin Mining declined 3.04% in regular trading, trading at HKD 21.18 per share, with trading volume of HKD 179 million.

On the news front, new Fed Chair Waller continued to deliver hawkish signals, with market-implied probability of a 25-basis-point rate hike by year-end rising to approximately 50%. The US dollar index and US Treasury yields moved higher in tandem, pushing spot gold prices back down to around USD 4,440 per ounce. Rising rate expectations increase the opportunity cost of holding non-yielding gold, while a stronger dollar further erodes gold's appeal, intensifying selling pressure across the sector.

Within the Gold sector, stocks broadly declined. Among peers, Zijin Mining fell 0.87%, Zijin Gold International fell 0.63%, Lingbao Gold fell 4.23%, China Gold International fell 1.60%, and SD Gold fell 1.74%. Institutional analysis suggests that while gold prices remain constrained by rate expectations and dollar strength in the near term, sustained central bank gold purchases continue to provide medium-to-long-term support.

(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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