Jinwu Financial News | Gold stocks fell collectively. Lingbao Gold (03330) fell 8.22%, Zhaojin Mining (01818) fell 5.86%, Shandong Gold (01787) fell 5.83%, Zijin Mining (02899) fell 4.4%, and China Gold International (02099) fell 2.77%.
Analysts said that as geopolitical tension in the Middle East eases, safe-haven demand decreases, traders await US data, and gold and silver prices have declined.
CITIC Futures said that the bank's core logic is that the recent rapid rise is not stable if geographical factors and long-term risk narrative logic are used. Because of the continuous rise since March, the transaction is still based on the soft landing logic of cutting interest rates. At this point, when short-term expectations change, the price increase may end in multiple profits, so beware of the risk side.