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Hong Kong stocks are volatile. Golden industrial concept ranks first in terms of decline, with chinagoldintl falling more than 8%. International gold prices continue to fall.
As of press time, the stocks of gold companies are leading the decline, with Chinagoldintl (02099) down 8.48% to HKD 42.1, Lingbao Gold (03330) down 6.61% to HKD 3.11, SD Gold (01787) down 5.46% to HKD 15.94, and Zijin Mining Group (02899) down 4.46% to HKD 15.
Goldman Sachs: For every 10% drop in gold price, physical gold demand in China rises 16%, and gold prices are expected to remain at 2700 next year.
Goldman Sachs believes that physical gold demand still dominates the Chinese market, and Chinese consumers may play a key role in pushing up gold prices. There is still more than 12% room for gold prices to rise next year, and expectations of a Fed rate cut and demand from central banks around the world will also help boost gold prices.
Does the Rally in Gold Still Have Room to Run? – TDS
Huili: bullish on gold's performance in the second half of the year, a chance to buy in on a dip to $2300.
Zhao Shande said that from a technical perspective, any pullback to the strong resistance at $2300 can provide a good buying opportunity for investors, reflecting that gold has a certain defensive capability.
"Rate cut trade" and "Trump trade" double blessing: Gold prices approach historic highs.
The market's expectation of a rate cut in September has pushed up the price of gold, while the failed assassination attempt on Trump has further boosted demand for metals as a safe haven.
Ra Silk Road (00274.HK): Delayed the release of the annual performance announcement for the fifteen months ending on March 31, 2024.
Ra Silk Road (00274.HK) announced on July 16th that the announcement of the audited end-period performance for the fifteen months ended on March 31, 2024 (the "2024 Annual Performance") will be delayed due to the fact that some information and documents (including bank and audit confirmation letters, valuation reports, and other financial information) of newly acquired subsidiaries have not been finalized. Therefore, the company needs additional time to prepare for its 2024 annual performance. The company is working closely with auditors to provide all necessary information and documents in order to complete the audit procedures as soon as possible. As of the announcement date, the company is still preparing the necessary
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