The Zhitong Finance App learned that gold stocks bottomed out in early trading and rebounded. As of press release, China Gold International (02099) rose 3.53% to HK$46.9; Shandong Gold (01787) rose 3.25% to HK$17.18; and Zhaojin Mining (01818) rose 1.9% to HK$12.86.
According to the news, the situation in the Middle East has suddenly changed. According to CCTV news reports, Israeli Prime Minister Binyamin Netanyahu strongly rejected Hamas's request to end the conflict in Gaza in exchange for the release of the hostages. He said it would keep Hamas in power and pose a threat to Israel. The Palestinian News Agency reported on the evening of May 5, local time, that since the morning of May 5 local time, 18 people have died in Israeli military attacks against various regions in the Gaza Strip. Spot gold rebounded from a low point on Monday, breaking through $2,310 per ounce. Analysts pointed out that as tension in the Middle East is likely to heat up again, gold is expected to benefit from it.