Movement Alert|ZIJIN GOLD INTL Falls 3.1% in Regular Trading, Gold Price Retreats from Highs Pressuring Sector

Market Focus
Aug 13

On August 13, ZIJIN GOLD INTL fell 3.1% in regular trading, trading at 131.6 HKD/share, with turnover of HKD 292 million.

On the news front, international gold prices surged to a stage high of USD 4,435 before quickly retreating, breaking below the USD 4,400 support level. Technical indicators showed the RSI in severely overbought territory, triggering concentrated short-term profit-taking and a technical correction that weighed on the entire gold sector.

Within the Gold sector where ZIJIN GOLD INTL belongs, the sector declined broadly. Among individual stocks, LINGBAO GOLD down 5.64%, CHINAGOLDINTL down 5.08%, SD GOLD down 3.82%, ZHAOJIN MINING down 3.52%, CHIFENG GOLD down 2.92%. The sector exhibited significant linkage effects amid the gold price pullback.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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