Stock Track | CHIFENG GOLD Plummets 6.69% Intraday as Gold Prices Tumble After Trump's Iran Remarks

Stock Track

04/02

CHIFENG GOLD's stock plummeted 6.69% intraday, reflecting a broad decline across the gold mining sector.

The sharp drop followed a sell-off in precious metals prices after U.S. President Donald Trump delivered a national address on Iran. Trump declared a "swift, decisive, and overwhelming victory" regarding military actions and indicated that stronger strikes against Iran would follow in the coming weeks. This geopolitical development triggered a sharp decline in gold and silver prices, with spot gold briefly falling below $4,650 per ounce and extending losses during the afternoon session.

Technical analysts have noted scenarios that could push gold prices significantly lower, potentially below $4,000 per ounce. The weakness in underlying commodity prices directly pressured gold-related stocks, leading to the substantial intraday decline in CHIFENG GOLD shares.

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