The golden industrial concept sector fell universally. Zhaojin Mining (01818) fell by 9.86%. Bank of China believes that the future interest rate cut path of the US Federal Reserve is still unclear. Metals face significant trade risks in the short term.
Jingu Caixun | The golden industrial concept sector is generally falling. As of press time, Zhaojin Mining (01818) fell 9.86%, China Gold International (02099) fell 7.5%, Lingbao Gold (03330) fell 6.91%, China Silver Group (00815) fell 6.78%, Zijin Mining Group (02899) fell 5.86%. Du Yang, a researcher at the Bank of China Research Institute, pointed out that the increasing uncertainty in the global economic and financial environment is one of the main reasons for the sharp fluctuations in metal prices. The lower-than-expected US inflation data has triggered the market's expectations of a rate cut by the Fed, further pushing up the price of gold. End.
Hong Kong stock market mid-day review: Hang Seng Index fell by 1.42%, recording 3 consecutive declines. Technology and financial stocks and other weights fell across the board. Photovoltaic stocks bucked the trend and rose.
The three major indexes continue to decline, all recording three consecutive falls.
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.
Peripheral gold prices soar, golden industrial concept stocks show strong performance at the beginning of trading, with SD Gold (01787) up 4.42%.
Jingu Finance News | Peripheral gold prices soared, golden industrial concept stocks were strong at the beginning of the trading session, Chi Silver GP (00815) rose 6.25%, SD Gold (01787) rose 4.42%, Lingbao Gold (03330) rose 3.98%, Tongguan Gold (00340) rose 3.92%, Zhaojin Mining (01818) rose nearly 2%. Overnight, peripheral gold prices soared, and Fed officials' comments strengthened the market's expectations of a rate cut in September. Investors poured funds into gold as a safe-haven asset, and international gold prices rose. New York gold futures closed at $2,467.8 per ounce, up 1.6%. Ping An Securities said that assets in the United States
"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.
China Securities Co., Ltd.: the US interest rate cut boosts the prices of precious metals and basic metals, and the demand for new quality productivity opens a new era for small metals.
Zhongxin Jiantou Securities released a research report stating that metals and limited-supply non-ferrous commodities have performed well in the first half of the year, mainly reflecting three core logic:
Tracking Hong Kong stock concepts | The Fed does not need to wait for inflation to fall below 2% before lowering interest rates. Gold prices will have further drivers in the future. (Attached concept stocks)
Continuing to stay ahead of the expected rate cut by the Federal Reserve, industry insiders say that the adjustment in gold prices may provide a good buying opportunity.
Gold prices fell after investors took profit, ING said the gold rally will continue until the end of the year.
USA gold futures fell sharply on Monday as investors took profits. Last week, the price of gold rose sharply on expectations that the Federal Reserve might lower interest rates in September.
Silver Price Analysis: Silver Probably Rising in C Leg of Measured Move
Huaxi Securities: Gold is currently in a long upward cycle and if the price falls in the future, it is expected to drive central banks around the world to purchase gold again.
According to a strategy research report from Huaxi Securities, in the long term, gold is in a large upward cycle. Firstly, in recent years, the scale of US debt has been expanding at an accelerated pace, and the pressure of interest payment continues to rise. After the conflict between Russia and Ukraine, the United States imposed financial sanctions on Russia, which has impacted the credibility of the US dollar. Due to concerns about the risk of US dollar credit and US dollar assets, central banks worldwide continue to increase their gold reserves.
Optimistic prospects for interest rate cuts have led to a general increase in major overseas asset classes such as US stocks, gold, silver, and crude oil. Weekly report on major overseas assets.
After the release of non-farm data for the week of July 1-5, the US stock and bond markets rose and the US dollar came under pressure. Upon realizing the 'data detail' that the data in the first two months before non-farm was cut by 0.11 million, US bonds sharply rebounded and the yield curve became steeper.
Gold and silver hit new one-month highs! Behind it is not only the boost of non-agricultural employment, but also the "big purchases" of the Reserve Bank of India.
The Non-Farm Payroll report released a significant signal of cooling in the US labor market, with expectations of a Fed interest rate cut rising and the US dollar under pressure. India's central bank gold reserves increased by over 9 tons in June, the highest level since July 2022.
Amidst the low battery prices, hedge funds quietly bought physical cobalt.
This year, the sales of electric autos have been weaker than expected and the cobalt market has experienced a record oversupply, causing spot cobalt prices to drop to a seven-year low. The cobalt futures price, which will be delivered in one year, is already 20% higher than the spot price. A significant spot discount creates opportunities for arbitrage.
Shanghai Gold Exchange: In May, the trading amount of gold was 2,459,794 million yuan, an increase of 65.2% compared with the same period last year.
In May, the volume of gold transactions was 4,434,907.92 kilograms, up 33.7% year-on-year, with a transaction amount of 2.4597 trillion yuan, up 65.2% year-on-year.
Overnight, the overseas gold price rose, and the golden industrial concept rose against the trend in early trading. Lingbao Gold (03330) rose 2.82%.
Kingwu Finance | Overnight peripheral gold prices rose, and golden industrial concept rose against the trend at the beginning of the session. Lingbao Gold (03330) rose 2.82%, Zhaojin Mining (01818) rose 2.21%, Chi Silver GP (00815) rose 1.67%, Chinagoldintl (02099) rose 1.54%, and Zijin Mining Group (02899) rose 1.5%. The weakness of the US dollar pushed the gold price up, with the New York gold futures closing at 2336.6 US dollars per ounce, up 1%. Spot gold was previously reported at 2328.07 US dollars/ounce, and rose 7 US dollars in the short term. Goldman Sachs previously pointed out in a report that holding gold long positions has
Stocks related to the golden industrial concept fell today, while the June PMI of the USA exceeded expectations across the board. Gold and silver prices plummeted sharply.
The golden industrial concept is generally declining. As of the time of publication, Chi Silver GP (00815) fell by 4.62%, reporting HKD 0.31; Chinagoldintl (02099) fell by 2.29%, reporting HKD 51.3; Lingbao Gold (03330) fell by 1.97%, reporting HKD 2.99.
Delivery concerns reoccur! The near-month copper price differential is once again on the rise.
Summary: The COMEX copper price curve has shifted downwards from before, and the curve has further converged in the near term, but the monthly difference in the near term has risen again. Currently, there are only two weeks left before the delivery of the July contract, but there is still no sign of delivery, and the holding position of the July contract is still relatively high. In addition, the continuous depletion of COMEX copper inventory is currently less than 10,000 tons, so the near-term price difference has widened again, reflecting the market's concern about the upcoming delivery. The next two weeks will be critical. Key insights: 1. Last week, precious metals and copper prices fluctuated.
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