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Individual Investors Who Own 52% Along With Institutions Invested in Chifeng Jilong Gold Mining Co.,Ltd. (SHSE:600988) Saw Increase in Their Holdings Value Last Week
Gold prices hit a new historical high, with gold industry ETFs, golden industrial concept ETF funds, and gold stocks ETFs rising by more than 3%.
Today, several gold stocks are leading in terms of increase. Beijing Xiaocheng Technology soared by 13%, Shandong Yulong Gold, Leysen Jewellery Inc. hit the daily limit, Shengda Resources, Chifeng Jilong Gold, and Shandong Jinchuan International increased by 8.69%, 6.67%, and 6.22% respectively.
China Galaxy Securities: Macro expectations and fundamentals weakened, metal prices significantly declined, with clear advantages in gold assets.
The unexpected downturn in US employment and economic data, especially the decline in US employment data, triggered the recession conditions of the "Sam rule", which has intensified the market's expectation of a recession in the US economy. As a result, trade of nonferrous metals commodities has caused a sharp price drop.
GF Sec: Gold is expected to continue to hit new highs in August, while basic metals are expected to stop falling and rebound.
Global actual demand for basic metals in July remains weak, with strengthening trade due to expectations of recession causing a fall in basic metal prices. The expectation of interest rate cuts in the USA is high, and gold prices may continue to fluctuate upward.
China Gold Association: China's gold production in the first half of the year was 179.634 tons, a year-on-year increase of 0.58%.
In the first half of 2024, the import of raw materials produced 72.026 tons of gold, a year-on-year increase of 10.14%. If this imported raw material production of gold is added, the country produced a total of 251.660 tons of gold, a year-on-year increase of 3.14%.
Earnings Tell The Story For Chifeng Jilong Gold Mining Co.,Ltd. (SHSE:600988)
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