Golden industrial concept collectively fell, as of press time, Lingbao Gold (03330) fell by 4.26%, closing at HKD 2.92; SD Gold (01787) fell by 3.2%, closing at HKD 13.3; Zijin Mining Group (02899) fell by 2.51%, closing at HKD 14.78.
According to the Wise News Finance APP, golden industrial concept collectively fell, as of press time, Lingbao Gold (03330) fell by 4.26%, closing at HKD 2.92; SD Gold (01787) fell by 3.2%, closing at HKD 13.3; Zijin Mining Group (02899) fell by 2.51%, closing at HKD 14.78; Chinagoldintl (02099) fell by 1.92%, closing at HKD 38.25.
On the news front, China Securities Co.,Ltd.'s research reports pointed out that since November, US Treasury bond rates and the USD index have significantly rebounded under Trump's trading, weakening expectations of rate cuts. Combined with severe overbought conditions technically, the gold price retraced from its high levels, dropping to around $2500. In the medium term, with the simultaneous slowing of the US economy and inflation, the gold price overall still struggles to break free from high-level volatility. In the short term, considering re-allocating at around $2400 for gold price.
It is reported that at the end of October this year, the international gold price broke through the historical high point of $2800 per ounce. However, after entering November, gold price fluctuations intensified. In early November, the international gold price continued to decline, dropping nearly 9% from its historical high. Industry experts believe that the market's cooling expectations of a rate cut by the Federal Reserve in December, reduced geopolitical risks in the Middle East, recent strength in the USD index, all constitute bearish factors for the international gold price. Gold price faces short-term adjustment pressure, but the medium to long-term trend is still bullish.