Movement Alert|Shandong Gold Falls 3.18% at Open, Gold Prices Slide Below 4300 USD as Strong Non-Farm Data Fuels Rate Hike Expectations

Market Focus
06/10

On June 10, Shandong Gold fell 3.18% at open, trading at 21.34 HKD per share, with trading volume of 437,500 HKD.

On the news front, international gold prices continued their correction, with spot gold briefly falling below 4,300 USD/oz. The U.S. May non-farm payrolls surged by 172,000, nearly double the market expectation of 88,000, significantly exceeding April's 115,000 figure. Following the data release, Goldman Sachs economists no longer expect the Federal Reserve to cut rates this year, pushing rate cut forecasts out to mid-2027. The sharp repricing of monetary policy expectations weighed heavily on gold prices and the broader precious metals sector.

Additionally, the company previously announced that its wholly-owned subsidiary Shanjin Capital intends to transfer a 14.13% stake in Donghai Securities and will recognize approximately 705 million yuan in fair value losses on its full 18.71% holding, directly reducing current-period profit.

Within the Gold sector, peers also declined broadly, with Chifeng Gold down 4.95%, Zijin Gold International down 3.78%, Zhaojin Mining down 3.55%, China Gold International down 2.56%, and Zijin Mining down 1.83%.

(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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