Gold stocks rose collectively. As of press release, Zhaojin Mining (01818) rose 6.24% to HK$13.28; Shandong Gold (01787) rose 4.35% to HK$17.76; and China Gold International (02099) rose 3.26% to HK$47.55.
The Zhitong Finance App learned that gold stocks were collectively higher. As of press release, Zhaojin Mining (01818) rose 6.24% to HK$13.28; Shandong Gold (01787) rose 4.35% to HK$17.76; China Gold International (02099) rose 3.26% to HK$47.55; and Zijin Mining (02899) rose 3.05% to HK$17.58.
According to the news, the real GDP growth rate of the US in the first quarter fell far short of expectations, recording the lowest growth rate since Q1 last year. US stocks fell sharply overnight, US bond yields collectively closed higher, and the weakening US dollar index stimulated a slight rise in gold prices. Spot gold closed at $2,330 per ounce; COMEX gold futures rose 0.27% to $2344.60 per ounce.
CICC said that at present, interest rates on US bonds have not declined significantly, but gold once hit 2,400 US dollars/ounce. The model residual reached the highest level in history, which may indicate that short-term gold valuations are already too high. Looking at the medium to long term, the rise in gold may not be over yet. The US debt problem has accumulated, and geopolitical incidents are frequent. The anti-globalization and de-dollarization pattern may further deepen, or push central banks around the world to continue to increase their gold holdings to provide support for gold prices.