Movement Alert|Zijin Gold International Falls 3.28% in Regular Trading, Fed Hawkish Signal Intensifies Pressure on Gold Sector

Market Focus06-22 09:49

On June 22, Zijin Gold International fell 3.28% in regular trading, trading at HK$106.9/share, with turnover of HK$261 million.

On the news front, new Fed Chair Waller's first FOMC meeting released a distinctly hawkish signal, with 9 out of 19 officials believing at least one rate hike is needed this year. The median projection for the federal funds rate was raised from 3.4% to 3.8%, shifting the policy outlook from rate cuts to a potential hike. The US dollar index surged above 100, while spot gold fell below the $4,200 mark, retreating over 20% from its annual high, continuing to weigh on non-yielding gold assets.

Within the Gold sector, losses were broad-based. Among individual stocks, Lingbao Gold down 6.15%, SD Gold down 4.47%, Zhaojin Mining down 4.15%, China Gold International down 4.08%, and Zijin Mining down 3.3%.

(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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