The Golden Industrial Concept continues its recent downward trend. As of the time of reporting, SD GOLD (01787) is down 3.81%, trading at 12.62 HKD; LINGBAO GOLD (03330) is down 1.1%, trading at 2.69 HKD; CHINAGOLDINTL (02099) is down 1.06%, trading at 37.2 HKD.
According to Zhitong Finance APP, the Golden Industrial Concept continues its recent downward trend. As of the time of reporting, SD GOLD (01787) is down 3.81%, trading at 12.62 HKD; LINGBAO GOLD (03330) is down 1.1%, trading at 2.69 HKD; CHINAGOLDINTL (02099) is down 1.06%, trading at 37.2 HKD; Zijin Mining Group (02899) is down 0.96%, trading at 14.4 HKD.
In terms of news, the Federal Reserve will hold its last interest rate meeting of the year on December 17-18. CITIC Futures pointed out that the Trump trade has recently weakened at the margins, but still emphasizes that before Trump's inauguration, the cabinet members are highly MAGA-oriented, and the direction of the Trump trade will not reverse, which suppresses the trend of Precious Metals. In addition, the US CPI and PCE data for November have gently rebounded, in line with expectations, but last week's PPI data rebounded more than expected. Recently, Fed officials have been sounding more conservative, and the result of the December interest rate meeting may appear as a "hawkish rate cut". In the short term, the Precious Metals prices are still viewed as oscillatory, closely monitoring the result of this Thursday's Federal Reserve interest rate meeting, and alerting to the potential Bearish impact of any hawkish guidance on Precious Metals.
