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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.
Taung Gold Announces New Auditor and Delays
Taung Gold (00621): Tianzhi appointed as auditor.
Taung Gold (00621) announced that, based on the recommendation of the Company's Audit Committee, Tiens Hong Kong Certified Public Accountants...
TAUNG GOLD: (1) APPOINTMENT OF AUDITOR;(2) FURTHER DELAY IN PUBLICATION OF 2023 ANNUAL ANDINTERIM RESULTS AND 2024 ANNUAL RESULTS;(3) FURTHER DELAY IN DESPATCH OF 2023 ANNUAL ANDINTERIM REPORTS AND 2024 ANNUAL REPORT; AND(4) CONTINUED SUSPE...
Does the Rally in Gold Still Have Room to Run? – TDS
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