As of press release, Zhaojin Mining (01818) rose 4.81% to HK$9.8, Shandong Gold (01787) rose 2.22% to HK$15.64, and China Gold International (02099) rose 1.33% to HK$49.15.
The Zhitong Finance App learned that gold stocks were higher. As of press release, Zhaojin Mining (01818) rose 4.81% to HK$9.8, Shandong Gold (01787) rose 2.22% to HK$15.64, and China Gold International (02099) rose 1.33% to HK$49.15.
According to the news, the gold market is “shining brightly,” and the price of gold continues to reach record highs. At present, the international gold price has surpassed 2,200 US dollars per ounce, and the domestic gold price has also repeatedly reached new highs, reaching 500 yuan/gram. The price of gold jewelry is once close to 670 yuan/gram. Industry insiders said that changes in market expectations of the Federal Reserve's monetary policy, “buy buy buy” by central banks around the world, and rising demand for safe haven from domestic consumers are all driving factors in the current round of gold price increases. Under the expectation that the Federal Reserve will switch from an interest rate hike cycle to an interest rate cut cycle during the year, precious metals prices will still rise and fall easily in the future.
According to the Fangzheng Securities Research Report, through an exclusion analysis of the “three gold bear market, two bear market patterns,” gold prices have no basis for a rapid decline in the short term, and they are optimistic that the price of gold will continue to break through record highs during the Fed's interest rate cut cycle. At the same time, similar to the night before the 2018-2019 gold bull market, it is expected that the price of gold will continue to be disturbed by multi-dimensional macroeconomic indicators. It is expected that the disturbance point will be the best point for allocating gold products/equity, and the price of gold will maintain a volatile upward trend.