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Express News | Spot Gold Hits Record High over 3,011/Oz
Hong Kong stocks are moving | Golden Industrial Concept stocks are collectively rising as gold prices once again breach the 3000 mark. UBS Group has raised the Target Price for gold to 3200 USD.
The Golden Industrial Concept collectively rose, as of this writing, SD GOLD (01787) increased by 5.33%, trading at 17.78 HKD; LINGBAO GOLD (03330) rose by 4.58%, trading at 6.16 HKD; Zijin Mining Group (02899) increased by 4.34%, also trading at 17.78 HKD.
Concerns over a recession in the USA combined with renewed tensions in the Middle East have resulted in Gold rising above $3000, setting a new historical high.
On Tuesday in the Asian market, spot Gold climbed above 3000 dollars per ounce, reporting at 3007.06 dollars per ounce at the time of writing. The USA retail sales fell short of expectations, casting a shadow over the economic outlook, coupled with renewed conflict in the Middle East, boosting demand for safe-haven Gold. So far this year, Gold prices have risen by more than 14%.
Golden Industrial Concept generally rises, SD GOLD (01787) increases by 2.96% as gold prices reach over 3000 dollars. Institutions expect gold prices to rise to 3500 dollars in the second quarter.
Jinwu Financial News | Golden Industrial Concept is experiencing a widespread rise. As of this report, TONGGUAN GOLD (00340) rose by 3.49%, SD GOLD (01787) rose by 2.96%, LINGBAO GOLD (03330) rose by 1.87%, ZHAOJIN MINING (01818) rose by 1.98%, and Zijin Mining Group (02899) rose by 1.88%. On the news front, the gold price has once again broken through the $3000 per ounce mark. Last night, the New York futures gold price closed at $3006.1 per ounce, an increase of 0.2%. Recently, Goldman Sachs significantly raised its gold price forecast for the end of 2025, expecting the gold price to reach $3100 by the end of 2025.
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