On June 29, Shandong Gold rose 3.5% in regular trading, trading at HK$17.69/share, with turnover of HK$60.52 million. The rebound followed weeks of heavy selling across the gold sector after spot gold broke below the $4,000/oz psychological level.

Shandong Gold's Hong Kong shares had accumulated over 10% in losses over the prior week, with multiple technical oversold signals emerging. Today the gold sector staged a broad-based recovery, with China Gold International up 5.17%, Zhaojin Mining up 4.45%, Zijin Gold International up 2.4%, and Zijin Mining up 2.19%.

Additionally, the World Gold Council's latest survey revealed that 45% of central bank reserve managers plan to increase gold holdings over the next 12 months, a record-high proportion. This structural central bank buying demand is viewed as providing medium- to long-term support for gold prices, even as short-term headwinds from a stronger U.S. dollar and elevated Fed rate hike expectations persist.

(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.)