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Gold Tops $2400 Amid Rate-Cut Hope: Is the Bull Run Over?
The anticipation of a Federal Reserve rate cut in September has invigorated the gold market, propelling prices above the $2,400 threshold for the first time since May 22nd. This surge followed the release of US Consumer Price Index (CPI) data on Wednesday, which fell short of Wall Street expectations and prompted the market to price in over a 90% chance of a rate cut in September.
Hong Kong stocks fluctuate | Golden industrial concept generally rises. The unexpected slowdown in US CPI boosts expectations for rate cuts, and gold prices once again break through the $2400 mark.
As of press time, golden industrial concept stocks generally rose. Lingbao Gold (03330) rose 5.64%, with a reported price of HKD 3.56; China Gold International (02099) rose 3.14%, with a reported price of HKD 54.15; Zhaojin Mining (01818) rose 2.22%, with a reported price of HKD 15.64.
Gold Rises to a Seven-Week High as the Dollar and Yields Tumble After U.S. Inflation Slowed Last Month
Gold traded at a seven-week high early on Thursday, spiking back above the US$2,400 mark for the first time since May 22 after U.S. consumer prices rose less than expected last month, sending the
Tracking Hong Kong stock concepts | The Fed does not need to wait for inflation to fall below 2% before lowering interest rates. Gold prices will have further drivers in the future. (Attached concept stocks)
Continuing to stay ahead of the expected rate cut by the Federal Reserve, industry insiders say that the adjustment in gold prices may provide a good buying opportunity.
Gold Price Resumes Uptrend, US CPI in Focus
Gold surges amid growing expectations of Fed rate cuts in September.
Stocks in Hong Kong are fluctuating. The golden industrial concept continues to decline, and the testimony of Powell is neutral, which suppresses the price of gold as the USD strengthens.
According to the Wisdom Finance app, golden industrial concepts continue to decline. As of press time, Lingbao Gold (03330) fell by 4.42% to HKD 3.24; Zijin Mining Group (02899) fell by 3.25% to HKD 17.26; China Gold Intl (02099) fell by 2.72% to HKD 51.9; and SD Gold (01787) fell by 1.3% to HKD 16.66. On the news front, Federal Reserve Chairman Powell acknowledged progress in inflation and a cooling job market but did not clearly signal an impending rate cut. The USD was performing relatively strongly, with gold prices briefly falling below $2,350/oz overnight.
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151467742 : $YANZHOU COAL MININ (YZCAY.US)$ Dude, which coal futures market has the most influence?