Gold stocks continued to decline. As of press time, China Gold International (02099.HK) fell 6.21% to HKD 188.9; Zijin Mining (02899.HK) dropped 5% to HKD 39.56; Zijin Gold International (02259.HK) declined 4.82% to HKD 205.2; and Chifeng Gold (06693.HK) decreased by 4.77% to HKD 35.9.
According to Zhitong Finance APP, gold stocks fell again. As of press time, China Gold International (02099) dropped 6.21% to HKD 188.9; Zijin Mining (02899) declined 5% to HKD 39.56; Zijin Gold International (02259) fell 4.82% to HKD 205.2; and Chifeng Gold (06693) decreased 4.77% to HKD 35.9.
In terms of market news, volatility in the international gold market has recently intensified. Galaxy Securities released a research report stating that following excessive expectations regarding the loss of Federal Reserve independence and liquidity premium, coupled with short-term profit-taking adjustments, the marginal easing of Fed liquidity and escalating global geopolitical tensions are still expected to drive up gold prices.
Orient Securities noted that Trump recently nominated Kevin Warsh as the next Federal Reserve Chair. The market expects Warsh to support interest rate cuts but will not adopt an aggressive loose monetary policy like other potential nominees. With concerns over the Fed’s independence significantly alleviated, precious metals have seen a pullback from earlier optimistic trading based on easing expectations, with notable short-term corrections. The bank believes that the fundamental logic for precious metals remains unchanged.
