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Hong Kong stock market abnormality | Weakness in golden industrial concept, Chinagoldintl (02099) fell by 3% after its performance report, as the expectation of a significant interest rate cut by the Federal Reserve decreases.
As of press time, golden industrial concepts have collectively weakened, with Chinagoldintl (02099) falling 2.8% to HKD 39.85; Lingbao Gold (03330) falling 2.76% to HKD 3.17; and SD Gold (01787) falling 2.38% to HKD 15.62.
Overnight, peripheral gold prices fell, and golden industrial concepts across the board declined. China Gold International (02099) fell 2.44%.
Golden Finance News | Overnight peripheral gold prices fell, gold stocks fell overall, Chinagoldintl (02099) fell 2.44%, Lingbao Gold (03330) fell 2.15%, Zijin Mining Group (02899) fell 1.69%, Sd Gold (01787) fell 1.5%, Zhaojin Mining (01818) fell 1.37%. New York gold futures closed at $2479.7 per ounce, down 1.1%. U.S. July inflation rose slightly, and the market expects the Federal Reserve to reduce interest rates by only 25 basis points in September, not 50 basis points, which may disappoint the market.
China Gold International Resources Reports 2024 Second Quarter and First Half Results
China Gold International Resources Narrows Loss in Q2
Chinagoldintl (02099.HK): Q2 revenue was USD 0.148 billion, an increase of 103% YoY.
Chinagoldintl (02099.HK) announced on August 15 that in the first half of 2024, revenue decreased by 36% to $0.2085 billion from $0.3258 billion in the same period of 2023. The mining operating surplus was $17.9 million, a decrease of $78.7 million compared to $96.6 million in the same period of 2023. Net loss was $30.892 million, a decrease of $56.2 million compared to net income of $25.321 million in the same period of 2023. Operating cash inflow was $88.1 million, compared to $54.2 million in the same period of 2023.
CHINAGOLDINTL: Interim Report 2024
CHINAGOLDINTL: Results Announcement for the Period Ended June 30, 2024
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