Movement Alert|Zhaojin Mining Falls 3.03% in Regular Trading, Fed Hawkish Signals and Stronger Dollar Weigh on Gold Sector

Market Focus
06/02

On June 2, Zhaojin Mining fell 3.03% in regular trading, trading at 21.14 HKD/share, with trading volume of 80.08 million HKD.

On the news front, the new Fed Chairman Waller delivered hawkish signals, with market pricing for a 25-basis-point rate hike by year-end rising to approximately 50%. The US dollar index and Treasury yields climbed in tandem, pushing spot gold prices down to around $4,440, which continued to pressure the gold mining sector broadly.

Within the Gold sector, stocks declined across the board. Among individual names, Lingbao Gold fell 5.63%, Zijin Gold International fell 4.55%, Chifeng Gold fell 3.86%, China Gold International fell 0.53%, and Zijin Mining fell 0.43%. 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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