Gold stocks rose collectively. As of press release, Lingbao Gold (03330) rose 10.09% to HK$3.49; Zhaojin Mining (01818) rose 5.8% to HK$14.6; and China Gold International (02099) rose 4.89% to HK$53.6.
The Zhitong Finance App learned that gold stocks were collectively higher. As of press release, Lingbao Gold (03330) rose 10.09% to HK$3.49; Zhaojin Mining (01818) rose 5.8% to HK$14.6; China Gold International (02099) rose 4.89% to HK$53.6; and Shandong Gold (01787) rose 4.74% to HK$19.44.
According to the news, the US recorded an unseasonally adjusted CPI annual rate of 3.4% in April, lower than the previous value of 3.5%, which is in line with market expectations; the monthly core CPI rate fell back to 0.3% as scheduled in April, a new low since December last year. Retail sales in the US remained flat month-on-month in April, below market expectations of 0.4%. Traders are firm in their bets that the Federal Reserve will cut interest rates in September and December.
The US dollar index fell 0.64% on Wednesday to a new low in nearly five weeks as expectations of the Federal Reserve's interest rate cut heats up. US Treasury yields also fell. Gold's appeal to investors increased, and the price of gold rose to the highest level in nearly a month. Gold futures rose 1.48% in June to $2394.9 per ounce at the New York Stock Exchange.