Jinwu Financial News | Golden industrial concept stocks are weakening, as of the time of writing, lingbao gold (03330) is down 4.59%, sd gold (01787) is down 2.91%, zhaojin mining (01818) is down 2.8%, zijin mining group (02899) is down 2.64%, chinagoldintl (02099) is down 1.79%.
In terms of news, industry insiders believe that the market's expectation for the Federal Reserve to cut interest rates in December has cooled, geopolitical risks in the Middle East have diminished, and the recent rebound of the usd has created a bearish outlook for international gold prices. Gold prices face short-term adjustment pressure, but the medium to long-term trend remains bullish.
china securities co.,ltd. research reports pointed out that since November, the US bond rates and usd have significantly rebounded under the trump trade, with cooling expectations of interest rate cuts, coupled with severe overbought technicals, gold prices have retreated from their highs, falling to around $2,500 at one point. Medium-term perspective, with the US economy and inflation slowing down synchronously, gold prices still struggle to break free from high volatility, in the short term, considering increasing allocation around $2,400.
