Movement Alert|LINGBAO GOLD Falls 5.18% in Regular Trading, Gold Sector Under Pressure as Fed Hawks Dampen Rate Cut Expectations

Market Focus
Aug 03

On August 3, LINGBAO GOLD fell 5.18% in regular trading, trading at 18.37 HKD/share, with turnover of 52.55 million HKD.

On the news front, the gold sector came under broad selling pressure after the Federal Reserve maintained its benchmark rate at 3.5%-3.75% at its July meeting, with three voting members advocating for a rate hike. The hawkish tilt cooled near-term rate cut expectations, while international gold prices traded in a narrow range between USD 4,055 and USD 4,080, failing to provide upside support for mining equities.

Within the Gold sector where LINGBAO GOLD belongs, the overall sector declined. Among individual stocks, ZIJIN MINING down 1.44%, ZIJIN GOLD INTL down 3.64%, SD GOLD down 2.73%, CHIFENG GOLD down 2.16%, CHINAGOLDINTL down 0.8%.

(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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