On July 2, Shandong Gold rose 4.49% in regular trading, trading at HKD 17.44, with turnover of HKD 80.95 million. The gold sector staged a broad-based rebound following a steep June selloff that saw spot gold fall 11.79% for the month.

On the news front, the gold sector had been heavily oversold after spot gold broke below the USD 4,000/oz level and the market priced in three Fed rate hikes this year amid a 4.2% CPI reading. Multiple technical oversold signals have emerged, with Shandong Gold's Hong Kong-listed shares previously declining over 10% in a single week. Supporting the rebound, the World Gold Council's latest survey showed 45% of central bank reserve managers plan to increase gold holdings in the next 12 months, a record high since the survey began in 2018, providing structural medium-to-long-term demand support for gold prices.

Within the Gold sector, the overall sector rallied broadly. Among individual stocks, China Gold International up 7.76%, Lingbao Gold up 6.1%, Zijin Gold International up 4.92%, Zhaojin Mining up 4.21%, Zijin Mining up 1.82%.

(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.)