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Buyers buy gold at low prices, and the premium of Asian gold is getting stronger.
This week, gold demand in India has risen due to the fall in gold prices, while the gold premium in China has strengthened due to some bid orders for safe-havens.
Can Gold Maintain Its Near Record High Price Through August?
The rising international gold price drives up the golden industrial concept, and Zijin Mining Group (02899) rose by 4.02%.
Jinwu Financial News | Golden industrial concept collectively rose, Zijin Mining Group (02899) rose 4.02%, Lingbao Gold (03330) rose 3.94%, Chinagoldintl (02099) rose 3.92%, Zhaojin Mining (01818) rose 3.47%, SD Gold (01787) rose 2.08%. On the news front, the high-frequency unemployment data in the United States eased recession sentiment and the price of gold rebounded significantly. Overnight, NYMEX gold futures closed at $2463.3 per ounce, up $30.9, or about 1.3%.
Hong Kong stocks abnormal change | Golden industrial concept rises collectively, initial claims data eases worries of recession, Middle East geopolitical situation remains tense.
Golden industrial concept collectively rises. As of writing, Lingbao Gold (03330) rose 3.94%, at HKD 3.43; Zhaojin Mining (01818) rose 3.79%, at HKD 13.16; Zijin Mining Group (02899) rose 3.61%, at HKD 15.48.
Gold: Long Liquidations to Weigh on Prices – TDS
Golden industrial concept is under pressure as Zhaojin Mining (01818) falls by 3.77%. The central bank has suspended shareholding in gold for three consecutive months.
Jingu Caixun | Golden industrial concept collectively under pressure, Zhaojin Mining (01818) fell 3.77%, SD Gold (01787) fell 3.43%, China Gold International (02099) fell 2.75%, Zijin Mining Group (02899) fell 1.59%, Lingbao Gold (03330) fell 1.51%. In terms of news, data released by the central bank shows that the central bank's gold reserves were 72.8 million ounces at the end of July, unchanged for three consecutive months. The central bank ended its 18-month gold buying action in May. In addition, the World Gold Council previously stated that in the second quarter of this year compared to the first quarter,
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