Jingu Finance | The overseas gold price rose overnight, and the golden industrial concept rose against the trend in the early trading. Lingbao Gold (03330) rose 2.82%, Zhaojin Mining (01818) rose 2.21%, Chi Silver GP (00815) rose 1.67%, China Gold Intl (02099) rose 1.54%, and Zijin Mining Group (02899) rose 1.5%.
The weakening of the US dollar pushed up the gold price. The NYMEX gold futures closed at $2336.6 per ounce, up 1%, spot gold once hit $2328.07 per ounce and rose by 7 US dollars in the short term.
Goldman Sachs previously pointed out in a report that holding long positions in gold has significant value and can hedge against inflation and geopolitical risks caused by tariff, Federal Reserve subordination risk, and debt concerns after the US election.