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.

Zhitong Finance21:53 ET

ZiJin Mining ADR To Go Ex-Dividend On August 2nd, 2024 With 0.27496 USD Dividend Per Share

Moomoo News19:40 ET

Guosen Securities: Marginal improvement in industry fundamentals, copper prices are expected to move upwards.

Since mid-July, the price of copper has fallen from over 80,000 yuan/ton to below 75,000 yuan/ton, giving back most of the gains since mid-March. Copper prices have fluctuated significantly since March this year, and the issue of tight mining supply has not been resolved, and there may be disruptions to recycled copper supply in the second half of the year.

Zhitong FinanceJul 24 04:00 ET

Gold: Easy Come, Easy Go – Commerzbank

FXStreetJul 23 10:59 ET

Hong Kong stocks are about to enter the performance period, and it is expected that there will be few bullish news to cash in.

Authored by / ATFX. Hong Kong stocks started the week with a rebound of more than 200 points, and the unexpected key interest rate cut by the central bank became the key to driving the rebound. On Tuesday, the rebound pattern continued. In addition, some of the Hong Kong stock market, which is ready to enter the performance period, is also guided by performance forecasts, but there are not enough bright profit surprises to boost the overall market. Xinyi Energy (03868) is expected to see a 25% to 35% drop in mid-term profit, and the group expects that its net profit for the six months ending in June will be reduced by 25% to 35%. Its profit in the same period last year was 0.568 billion yuan. The stock price has fallen for three consecutive days, and it further hit a decline of more than 3% today. The company points out that it owned solar energy in the first half of the year.

金吾財訊Jul 23 06:55 ET

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.

wallstreetcnJul 23 05:17 ET