Movement Alert|Zijin Gold International Falls 3.84% in Regular Trading, Gold Sector Rebound Momentum Fading with Third Consecutive Day of Pullback

Market Focus
Jul 09

On July 9, Zijin Gold International fell 3.84% in regular trading, trading at 100.3 HKD/share, with turnover of 66.04 million HKD. The gold sector extended its retreat for a third consecutive session as rebound momentum continued to dissipate.

On the news front, the US dollar index rebounded and strengthened, suppressing gold prices after spot gold touched a two-week high of $4,202 before pulling back. Previously, the sharply below-expectations June non-farm payrolls data had eased Fed rate-hike pressure, fueling a strong sector rebound from July 2 to July 6, during which Zijin Gold International rallied to as high as 110.3 HKD. However, since July 7, the dollar's recovery has capped upside momentum in gold, with the sector's rebound energy visibly diminishing. Across the gold sector, Chifeng Gold fell 3.99%, SD Gold fell 3.69%, Zhaojin Mining fell 2.91%, Lingbao Gold fell 2.63%, and Zijin Mining fell 0.54%.

(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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