Gold stocks collectively pulled back. As of press release, China Gold International (02099) fell 4.02% to HK$48.95; Lingbao Gold (03330) fell 2.33% to HK$3.35; Zijin Mining (02899) fell 0.9% to HK$17.52.
The Zhitong Finance App learned that there was a collective correction in gold stocks. As of press release, China Gold International (02099) fell 4.02% to HK$48.95; Lingbao Gold (03330) fell 2.33% to HK$3.35; and Zijin Mining (02899) fell 0.9% to HK$17.52.
According to the news, the US CPI rose 3.5% year on year in March, higher than the 3.4% forecast; the March CPI rose 0.4% month-on-month, which is also higher than the 0.3% expected by the market. After the data was released, precious metals stopped rising and fell back. Gold once fell more than 1% in the intraday period, falling to a record high, and then falling back after hitting a record high for eight consecutive days.
In addition, a maximum trading volume limit policy was introduced in the previous period, and the maximum number of gold intraday open trades is 2,800 lots. According to the industry, this move is aimed at reducing the risk of bursting out and closing positions. According to Huaan Fund, the current high of gold is mainly driven by capital, which more fully reflects the recent optimistic expectations of the market on fundamentals. Long trading is gradually crowded, and we need to pay attention to pullback risks in the short term.