Movement Alert|China Gold International Falls 3.29% in Regular Trading, Fed Hawkish Signal Continues to Weigh on Gold Prices

Market Focus
06/24

On June 24, China Gold International fell 3.29% in regular trading, trading at 126.4 HKD/share, with turnover of 50.43 million HKD.

On the news front, the Federal Reserve's June FOMC meeting delivered a clearly hawkish signal, with the dot plot showing the year-end rate median rising to 3.8%. Nine out of 18 policymakers expect at least one rate hike this year, significantly boosting rate hike expectations and driving sustained USD strength. International gold prices have broken below the $4,100/oz level, with COMEX gold futures already retreating over 27% from their highs. As a non-yielding asset, gold faces notably higher holding costs amid rising rate expectations, putting broad pressure on the sector.

Within the Gold sector, individual stocks declined broadly. ZIJIN GOLD INTL fell 6.58%, SD GOLD fell 4.73%, LINGBAO GOLD fell 4.86%, ZHAOJIN MINING fell 2.09%, and ZIJIN MINING fell 1.49%.

(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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