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Hong Kong stock market abnormality | Weakness in golden industrial concept, Chinagoldintl (02099) fell by 3% after its performance report, as the expectation of a significant interest rate cut by the Federal Reserve decreases.
As of press time, golden industrial concepts have collectively weakened, with Chinagoldintl (02099) falling 2.8% to HKD 39.85; Lingbao Gold (03330) falling 2.76% to HKD 3.17; and SD Gold (01787) falling 2.38% to HKD 15.62.
Overnight, peripheral gold prices fell, and golden industrial concepts across the board declined. China Gold International (02099) fell 2.44%.
Golden Finance News | Overnight peripheral gold prices fell, gold stocks fell overall, Chinagoldintl (02099) fell 2.44%, Lingbao Gold (03330) fell 2.15%, Zijin Mining Group (02899) fell 1.69%, Sd Gold (01787) fell 1.5%, Zhaojin Mining (01818) fell 1.37%. New York gold futures closed at $2479.7 per ounce, down 1.1%. U.S. July inflation rose slightly, and the market expects the Federal Reserve to reduce interest rates by only 25 basis points in September, not 50 basis points, which may disappoint the market.
Gold: Host of Tailwinds to Give Metal New Shot at ATH With $2,600 in Sight
Gold is “back to kill”! ANZ Bank predicts that the year-end gold price will rise to 2550 US dollars.
Gold futures reached a new record high in the near-month contract on Tuesday, as market optimism for the Fed's interest rate cut path was strengthened by the moderate and sustained inflation shown by the US Producer Price Index (PPI) data.
Gold Within Striking Distance of All-time High, but Temporary Price Slide Remains Mysterious – Commerzbank
Risk aversion is rising! Spot gold has broken through $2460, and the sector is heating up again.
Can we expect to reach a new high?
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