Chifeng Gold (06693) experienced a remarkable surge of 10.61% in early trading on Tuesday, as gold stocks across the board rallied in response to a significant uptick in spot gold prices. The stock's impressive performance comes amidst a broader trend of strength in the precious metals sector.
The primary driver behind this surge is the sharp increase in spot gold prices, which have climbed above $3,370 per ounce. This surge in the underlying commodity price has sparked renewed investor interest in gold-related equities, with Chifeng Gold being a notable beneficiary of this trend.
The rally in gold stocks is not limited to Chifeng Gold alone. Other notable performers in the sector include Wanguo, which also jumped over 10%, while Lingbao Gold saw gains of around 7%. Additionally, Shandong Gold (SD) experienced an uptick of approximately 6%. This widespread rally underscores the strong positive sentiment currently surrounding gold-related investments in the market.
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