Movement Alert|Zijin Gold International Falls 4.19% in Regular Trading, Gold Sector Broadly Hammered as Gold Price Breaks Below $4000 and Wall Street Downgrades Expectations

Market Focus
Jun 30

On June 30, Zijin Gold International fell 4.19% in regular trading, trading at HK$87.35/share, with turnover of HK$44.59 million.

On the news front, spot gold continued to slide below the $4,000/oz psychological level, hitting a seven-month low. The Fed's hawkish signals pushed the US Dollar Index above 101.6, a 13-month high, continuously suppressing valuations of non-yielding gold assets. Multiple Wall Street banks have recently downgraded gold price forecasts in quick succession, with BMO Capital Markets cutting its second-half average gold price expectation by 5%, explicitly citing US monetary policy direction as the biggest uncertainty risk for gold. Market pricing now reflects expectations that the Fed may raise rates three times before year-end, with the December hike probability at 89%.

Within the Gold sector, the entire group extended weakness. Among individual stocks, Zijin Mining down 2.89%, Lingbao Gold down 6.18%, Zhaojin Mining down 5.93%, SD Gold down 4.65%, China Gold International down 3.57%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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