Movement Alert｜Shandong Gold Falls 3.04% in Regular Trading, Gold Sector Broadly Weak as Multiple Banks Cut Price Forecasts

Market Focus06-05

On June 5, Shandong Gold (01787.HK) fell 3.04% in regular trading, trading at HKD 22.34 with turnover of HKD 130 million, extending a multi-day decline amid persistent gold price corrections.

On the news front, international gold prices continue to adjust as US-Iran tensions escalate, pressuring precious metals. Several major banks have simultaneously lowered their gold price forecasts — Commerzbank cut its year-end target from USD 5,000 to USD 4,800 per ounce, while Citi projected near-term prices at USD 4,300. JPMorgan, Morgan Stanley, and ANZ also issued downgrades. Meanwhile, Fed rate hike expectations are intensifying, with interest rate swaps now fully pricing in a hike by early next year.

The broader gold sector declined in tandem, with Zijin Mining down 0.78%, Zhaojin Mining down 2.81%, China Gold International down 2.19%, and Lingbao Gold down 1.86%. The Shenwan precious metals sub-index has averaged a 46% drawdown year-to-date, while Shandong Gold A-shares have retreated over 55% from their late-January peak. Technical indicators suggest the stock remains in a bearish trend with sustained capital outflows.

(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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Several major banks have simultaneously lowered their gold price forecasts — Commerzbank cut its year-end target from USD 5,000 to USD 4,800 per ounce, while Citi projected near-term prices at USD 4,300. JPMorgan, Morgan Stanley, and ANZ also issued downgrades. Meanwhile, Fed rate hike expectations are intensifying, with interest rate swaps now fully pricing in a hike by early next year.</p><p>The broader gold sector declined in tandem, with Zijin Mining down 0.78%, Zhaojin Mining down 2.81%, China Gold International down 2.19%, and Lingbao Gold down 1.86%. The Shenwan precious metals sub-index has averaged a 46% drawdown year-to-date, while Shandong Gold A-shares have retreated over 55% from their late-January peak. Technical indicators suggest the stock remains in a bearish trend with sustained capital outflows.</p><p>(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. 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