Golden stocks have hit bottom and rebounded. As of the time of writing, Lingbao Gold (03330) rose by 3.33%, reporting HKD 3.72; Zhaojin Mining (01818) rose by 2.16%, reporting HKD 16.06; Shandong Gold (01787) rose by 1.01%, reporting HKD 18.
According to the Zhongtong Finance APP, golden stocks have hit bottom and rebounded. As of the time of writing, Lingbao Gold (03330) rose by 3.33%, reporting HKD 3.72; Zhaojin Mining (01818) rose by 2.16%, reporting HKD 16.06; Shandong Gold (01787) rose by 1.01%, reporting HKD 18.
On the news front, spot gold rose in the short-term during intraday trading, re-approaching the $2470/ounce mark and rising over $14 in the day. Prior to this, after reaching a new historical high of $2483.60 in gold prices, profit-taking occurred and ultimately resulted in a 0.41% drop. Guomao Futures believes that in the short-term, with the expectation of a 100% rate cut in September, and due to the trend of a certain upward momentum after gold prices reached their historical new highs, precious metals prices may continue to run a short-term influential operation.