Movement Alert|China Gold International Falls 3.42% in Regular Trading, Fed Hawkish Signal Continues to Weigh on Gold Prices

Market Focus
06/23

On June 23, China Gold International fell 3.42% in regular trading, trading at 138.3 HKD/share, with turnover of 26.87 million HKD.

On the news front, the Federal Reserve's June FOMC meeting delivered a clear hawkish signal, with the dot plot showing the year-end median rate rising to 3.8%. Among 18 policymakers, 9 expect at least one rate hike this year, significantly boosting market rate-hike expectations and driving the US dollar to fresh one-year highs. COMEX gold futures have retreated over 27% from their peak, with international gold prices breaking below the $4,200 level and continuing to weaken. Gold, as a non-yielding asset, faces significantly higher holding costs amid rising rate expectations, pressuring the sector broadly.

Within the Gold sector, the overall industry declined. Among individual stocks, Zijin Mining down 3.86%, Zijin Gold International down 4.4%, Lingbao Gold down 2.17%, SD Gold down 3.5%, Zhaojin Mining down 1.74%.

(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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