The "gold bar" Trade in the USA has nearly stopped, with a significant narrowing of the price difference between COMEX and London futures.
Currently, the USA Gold reserves have reached a four-year high, and the ample inventory has reduced arbitrage opportunities; however, the high storage costs in New York may lead to Gold flowing back to London or other areas.
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Goldman Sachs pointed out that in January, the gold import amount was about 25 billion USD, almost accounting for the entire expansion of the USA trade deficit of 31 billion USD, which has a significant distorting effect on trade data and leads the market to be not bullish on the first quarter GDP growth. Moreover, this portion of imports is usually excluded from GDP calculations, so there is no need for the market to be overly pessimistic.
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After a drop in international gold prices the previous night, the Golden Industrial Concept fell in response with LINGBAO GOLD (03330) down 7.25%.
Jinguo Finance | Golden Industrial Concept stocks fell broadly, LINGBAO GOLD (03330) dropped by 7.25%, ZHAOJIN MINING (01818) fell by 4.2%, Zijin Mining Group (02899) declined by 3.43%, SD GOLD (01787) decreased by 1.75%, and CHINAGOLDINTL (02099) fell by 1.59%. Last night, international gold prices corrected as the market awaited the upcoming USA inflation data, with New York futures gold closing at $2895.9 per ounce, a decrease of 1.2%.
Hong Kong stock movement | LINGBAO GOLD (03330) fell over 5%, leading the decline among Golden Industrial Concept stocks. Multiple factors are putting pressure on gold, with gold prices falling below the $2900 mark.
The Golden Industrial Concept generally declined. As of the time of this report, LINGBAO GOLD (03330) fell by 5.2%, trading at 5.1 Hong Kong dollars; Zijin Mining Group (02899) decreased by 2.51%, trading at 14.78 Hong Kong dollars; CHINAGOLDINTL (02099) dropped by 2.27%, trading at 43.05 Hong Kong dollars.
Zhongzheng Pengyuan: It is expected that the price of Gold will remain high with fluctuations in 2025, while the overall price of Black Metal will show a pattern of first declining and then rising.
In 2025, the Black Metal Industry Chain will face a complex situation of raw material supply surplus, differentiated demand, and policy regulation.
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