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Prospects of interest rate cuts boost the price of gold, and gold bulls cheer.
According to the CFTC data, net long positions in gold have reached the highest level in over four years. UBS Group predicts that by the fourth quarter of this year, the price of gold will rise to $2600, while Citigroup predicts that it will rise to $3000 by next year.
Gold Extends Rally as Geopolitical Risks Boost Haven Demand
Goldman Sachs: Maintains a "buy" rating on Zijin Mining Group, with a target price raised to HK$21.5.
Goldman Sachs released a research report stating that it maintains a 'buy' rating on Zijin Mining Group (02899) with a target price raised from 19 Hong Kong dollars to 21.5 Hong Kong dollars. The report mentions that due to the improvement in operation, the average selling price of Zijin Mining Group is higher and the expected costs are lower. The semi-annual recurring net profit increased by 51% year-on-year to 15.7 billion RMB, surpassing the bank's and market expectations. The company announced a mid-term dividend, equivalent to a dividend yield of 18%, higher than the 13% during the same period last year. The bank reiterated that the company is one of the few mining companies that can benefit from both sales volume and commodity price increases. The company's continued operational improvement may bring upside surprises to profitability, prompting an upward adjustment to its 20
Zijin Mining's H1 Profit Rises on Higher Operating Income
The expected interest rate cut by the U.S. Federal Reserve boosts the Hong Kong stock market, with real estate and golden industrial concept performing well.
①The expectation of a Fed rate cut is strengthening, which sectors are expected to benefit? ②Why did xpeng stock soar today?
With the interest rate cut confirmed in September, will metals start a new round of upward trend?
The market has responded more positively to Powell's dovish remarks at the JH meeting on Friday.
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