Jinwu News | Gold stocks are under pressure, China Gold International (02099) fell 3.46%, Zhaojin Mining (01818) fell 2.24%, Zijin Mining Group (02899) fell 1.93%, Lingbao Gold (03330) fell 1.66%.
The non-farm payroll data in early June in the United States exceeded expectations, leading to a continuous downward revision of market expectations for the Fed's interest rate cuts, and the US dollar index rebounded strongly, putting pressure on gold prices. Shanghai Dongzheng Futures points out that the short-term gold prices are still in a weak correction trend, and it is recommended to wait for the correction. The medium and long-term upward trend is not over.
Soochow Securities stated that due to the unexpected release of the June manufacturing PMI in the United States last Friday, the domestic and international gold prices fell slightly. The bank believes that the current US inflation expectations are repeatedly disrupted, and the gold price will experience periodic fluctuations due to this effect, but the long-term upward trend will not change.