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International gold prices were under pressure last night, and Golden Industrial Concept stocks generally fell.
Kingwo Financial News | Golden Industrial Concept stocks experience widespread declines, with LINGBAO GOLD (03330) down 11.24%, CHI SILVER GP (00815) down 4.11%, Zijin Mining Group (02899) down 3.84%, ZHAOJIN MINING (01818) down 3.40%, TONGGUAN GOLD (00340) down 2.63%, SD GOLD (01787) down 1.67%, and CHINAGOLDINTL (02099) down 1.02%. On the news front, the market is awaiting the release of inflation data from the USA this week. Recently, international gold prices were under pressure, with New York futures gold settling at $2899.4 per ounce, down 0.5%. Shen Yin
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In the future, the Gold market may still experience temporary fluctuations. However, there are indications that over time, the depth and liquidity of the Gold market are sufficient to withstand most shocks.
By the end of February, both the scale of foreign reserves and Gold reserves have slightly increased. With high gold prices, experts remind to weigh profits against risks.
① As of the end of February, China's Forex reserves amounted to 3,227.2 billion USD, an increase of 18.2 billion USD compared to the end of January. The decline in the USD roughly drove the rise in the prices of non-USD assets in China's foreign reserves by about 10 billion USD; ② At the end of February, the People's Bank of China held 73.61 million ounces of Gold, an increase of 0.16 million ounces compared to the end of January.
In February, China's Forex reserves increased, and the central bank expanded its Gold reserves for four consecutive months.
As of the end of February, China's Gold reserves were 73.61 million ounces, an increase from 73.45 million ounces at the end of January, showing a growth of 0.22%. As of the end of February 2025, China's Forex reserves stood at $3227.2 billion, an increase of $18.2 billion from the end of January, representing a growth of 0.57%.
