News summary
Increased market confidence drives gold stocks to rise collectivelynftplaytoearngamesfree, Lingbao Gold (03330) led the increase, reaching 10nftplaytoearngamesfree.09%, closing at 3nftplaytoearngamesfree.49 Hong Kong dollarsnftplaytoearngamesfree; Zhaojin Mining (01818) and Shandong Gold (01787) followed closely, with increases of 5.8% and 4.74% respectively, closing at HK$14.6 and HK$19.44 respectively.
Newsletter text
[Gold stocks such as Lingbao Gold, Zhaojin Mining and China Gold International collectively rose sharply]
Investors 'enthusiasm for gold stocks continued to rise, causing Lingbao Gold (03330) shares to surge 10.09%, eventually closing at HK$3.49. At the same time, Zhaojin Mining (01818) and China Gold International (02099) also rose 5.8% and 4.89% respectively, reporting shares of HK$14.6 and HK$53.6. In addition, the share price of Shandong Gold (01787) also increased by 4.74% to HK$19.44.
In terms of macroeconomic news, the United States 'unseasonally adjusted CPI annual rate in April recorded 3.4%, slightly lower than the previous value of 3.5%, in line with market expectations. At the same time, the core CPI monthly rate smoothly fell back to 0.3% in April, the lowest point since December last year. In addition, U.S. retail sales were flat month-on-month in April, failing to meet market expectations of a 0.4% increase, further strengthening traders 'expectations that the Federal Reserve will cut interest rates in September and December.
The Fed's rising expectations of interest rate cuts caused the US dollar index to fall sharply by 0.64% on Wednesday, hitting a new low in nearly five weeks. At the same time, U.S. Treasury yields also fell. Against this background, gold's appeal to investors continues to rise, and gold prices have climbed to their highest point in nearly a month. On the New York Mercantile Exchange, the June gold futures price rose sharply by 1.48%, and finally closed at US$2,394.9 per ounce.
