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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.
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.
Does the Rally in Gold Still Have Room to Run? – TDS
Huili: bullish on gold's performance in the second half of the year, a chance to buy in on a dip to $2300.
Zhao Shande said that from a technical perspective, any pullback to the strong resistance at $2300 can provide a good buying opportunity for investors, reflecting that gold has a certain defensive capability.
"Rate cut trade" and "Trump trade" double blessing: Gold prices approach historic highs.
The market's expectation of a rate cut in September has pushed up the price of gold, while the failed assassination attempt on Trump has further boosted demand for metals as a safe haven.
China Securities Co., Ltd.: the US interest rate cut boosts the prices of precious metals and basic metals, and the demand for new quality productivity opens a new era for small metals.
Zhongxin Jiantou Securities released a research report stating that metals and limited-supply non-ferrous commodities have performed well in the first half of the year, mainly reflecting three core logic:
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