On August 6, LINGBAO GOLD rose 7.7% in regular trading, trading at HKD 23.0/share, with turnover of HKD 69.55 million. The gold sector rallied broadly, with SD GOLD up 6.27%, ZIJIN GOLD INTL up 6.2%, ZHAOJIN MINING up 6.06%, CHINAGOLDINTL up 6.04%, and ZIJIN MINING up 3.12%.
On the news front, the U.S. ADP private payroll report significantly undershot expectations, triggering a sharp gold rally. Spot gold surged approximately $169 and briefly broke above the $4,300 level. Concurrently, optimism surrounding U.S.-Iran negotiations on the Hormuz Strait shipping route pressured oil prices lower, while coordinated yen intervention operations pushed USD/JPY below 160, weakening the dollar broadly. The combination of softer U.S. labor data, a declining dollar index, and falling Treasury yields collectively reduced the opportunity cost of holding non-yielding gold, providing strong upward momentum across the precious metals complex.
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