Movement Alert|Zijin Gold International Falls 6.65% in Regular Trading, Rate Hike Expectations and ETF Outflows Pressure Gold Sector

Market Focus
Jun 08

On June 8, Zijin Gold International fell 6.65% in regular trading, trading at 110.0 HKD/share, with trading volume of HKD 205 million.

On the news front, persistent U.S. inflation data and strong employment figures have significantly strengthened expectations for a Fed rate hike, while global gold ETF holdings have declined for seven consecutive sessions since late May. CFTC non-commercial net long positions have dropped to a two-year low, signaling that leveraged and speculative capital is actively reducing gold exposure. Institutions have also lowered year-end gold price targets, with spot gold retreating near USD 4,450 per ounce. The rising opportunity cost of holding non-yielding gold amid a high-rate environment, combined with a stronger U.S. dollar and Treasury yields, has exerted multi-layered pressure on gold prices and gold equities.

Within the Gold sector, the broader group declined sharply. Among individual stocks, Lingbao Gold down 6.29%, Zhaojin Mining down 3.82%, Zijin Mining down 3.64%, China Gold International down 3.20%, SD Gold down 2.67%.

(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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