Tracking Hong Kong stock concepts | The Fed does not need to wait for inflation to fall below 2% before lowering interest rates. Gold prices will have further drivers in the future. (Attached concept stocks)

Continuing to stay ahead of the expected rate cut by the Federal Reserve, industry insiders say that the adjustment in gold prices may provide a good buying opportunity.

Zhitong Finance20:52 ET

Gold Price Resumes Uptrend, US CPI in Focus

Gold surges amid growing expectations of Fed rate cuts in September.

FXStreet14:40 ET

UBS Group rates Zijin Mining Group as a "buy" with a target price of HKD 22.3.

UBS Group released a research report stating that they give Zijin Mining Group (02899) a “buy” rating. The company's gold production in the first half of the year was about 35.4 tons, a year-on-year increase of 9.6%; copper production was about 0.518 million tons, a year-on-year increase of 5.3%. The price increase and cost control improvement brought surprises to the performance. Due to the outperformance of the market expectations, the bank expects a positive reaction from investors, and the target price is HKD 22.3. The report stated that the company is expected to achieve a net income of RMB 14.55 billion to 15.45 billion in the first half of the year, a year-on-year increase of 41% to 50%, achieving 51% to 54% of UBS's expected net income of RMB 28.5 billion for the fiscal year of 2024.

新浪港股Jul 10 04:15 ET

Stocks in Hong Kong are fluctuating. The golden industrial concept continues to decline, and the testimony of Powell is neutral, which suppresses the price of gold as the USD strengthens.

According to the Wisdom Finance app, golden industrial concepts continue to decline. As of press time, Lingbao Gold (03330) fell by 4.42% to HKD 3.24; Zijin Mining Group (02899) fell by 3.25% to HKD 17.26; China Gold Intl (02099) fell by 2.72% to HKD 51.9; and SD Gold (01787) fell by 1.3% to HKD 16.66. On the news front, Federal Reserve Chairman Powell acknowledged progress in inflation and a cooling job market but did not clearly signal an impending rate cut. The USD was performing relatively strongly, with gold prices briefly falling below $2,350/oz overnight.

Zhitong FinanceJul 10 01:45 ET

Gold Price Inches Higher as Powell Signals Patience

Gold prices rise above $2,360 after Powell’s Senate testimony indicates a cautious approach to rate cuts.

FXStreetJul 9 15:31 ET

Credit Suisse: Rated Zijin Mining Group as "buy", with a target price of HKD 19.3.

Furui issued a research report stating that zijin mining group (02899) has a "buy" rating with a target price of HKD 19.3. Zijin Mining Group has announced its earnings, with a net income of RMB 14.6 billion to RMB 15.5 billion expected in the first half of the year, meaning a year-on-year growth of 41% to 50%, reaching 51% to 54% of market estimates for the full year. The bank estimated that its net income in the second quarter will be between RMB 8.3 billion and RMB 9.2 billion, meaning a year-on-year increase of 70% to 89%, and will set a new record for quarterly net profit in the company's history. The strong performance is in line with expectations and reflects the rise in commodity prices in the second quarter. Waiting for the complete performance announcement on August 23. Although

新浪港股Jul 9 00:04 ET