Gold stocks rose collectively in early trading. As of press release, China Gold International (02099) rose 11.24% to HK$47.5; Zijin Mining (02899) rose 6.02% to HK$15.84; and Zhaojin Mining (01818) rose 4.09% to HK$9.67.
The Zhitong Finance App learned that gold stocks rose collectively in early trading. As of press release, China Gold International (02099) rose 11.24% to HK$47.5; Zijin Mining (02899) rose 6.02% to HK$15.84; Zhaojin Mining (01818) rose 4.09% to HK$9.67; and Lingbao Gold (03330) rose 3.81% to HK$2.45.
According to the news, although the rebound in US inflation data exceeded expectations, investors are still hopeful that the Federal Reserve will cut interest rates in June. Meanwhile, the escalating geopolitical tension and weakening of the US dollar continued to support safe-haven demand, and gold futures closed higher on Wednesday. COMEX's April gold futures closed up 0.68% to $2180.80 per ounce.
Natasha Kaneva, head of global commodity research at J.P. Morgan Chase, said that gold is the company's first choice in the commodities market. Natasha Kaneva said they think the price of gold may rise to $2,500 this year because the market is often too excited. To achieve this price target, people need to confirm that US inflation and employment data continue to slow, and confirm that the Federal Reserve is actually cutting interest rates.