Movement Alert|Lingbao Gold Falls 5.15% in Regular Trading, Gold Price Correction Combined with Fed Rate Hike Expectations Weighs on Sector

Market Focus
Jun 03

On June 3, Lingbao Gold fell 5.15% in regular trading, trading at 15.46 HKD/share, with trading volume of approximately 141 million HKD.

On the news front, international gold prices have retreated sharply from highs near $5,300 per ounce to approximately $4,400, representing a decline exceeding 20%. Concurrently, Fed rate hike expectations have continued to intensify, with interest rate swaps indicating that traders have fully priced in a rate hike by March 2027. The strengthening US dollar has placed additional pressure on dollar-denominated gold, keeping the entire gold sector under sustained pressure.

Within the Gold sector, stocks declined broadly on the day. Zijin Mining fell 0.23%, Zhaojin Mining fell 1.85%, SD Gold fell 1.99%, and China Gold International fell 1.02%, demonstrating a clear sector linkage effect. The company has continued its share buyback program, repurchasing approximately 78,400 shares on May 28 at a cost of around 1.24 million HKD.

(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.)

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