Understanding the Market | Gold stocks opened higher collectively as trade tensions boosted risk aversion, with international gold prices hitting a new historical high
Gold stocks opened higher collectively, influenced by trade tensions and the Federal Reserve's easing monetary policy, with international gold prices hitting a new historical high. CHI SILVER GP rose by 5.13%, LINGBAO GOLD increased by 4.7%, and ZHAOJIN MINING climbed by 4.35%. New York futures gold first broke through $3,000, while spot gold once touched $2,990. Analysts expect gold prices may rise to $3,500 per ounce in the third quarter, and in the long term, gold prices are likely to continue to increase, with opportunities for related stock allocations gradually emerging
According to Zhitong Finance APP, gold stocks opened higher collectively. As of the time of publication, China Silver Group (00815) rose 5.13% to HKD 0.41; Lingbao Gold (03330) rose 4.7% to HKD 5.79; ZHAOJIN MINING (01818) rose 4.35% to HKD 14.86; Shandong Gold (01787) rose 4.19% to HKD 16.4; China Gold International (02099) rose 2.82% to HKD 51.
On the news front, trade tensions have heightened risk aversion, coupled with bets on the Federal Reserve easing monetary policy, leading gold prices to hit a new historical high on Thursday. Overnight, New York futures gold rose 1.85%, breaking through the USD 3,000 mark for the first time, closing at USD 3,001.3 per ounce, a new historical high; spot gold also touched a historical high of USD 2,990 this morning. Analysts at Macquarie Group expect that by the third quarter of this year, gold prices could rise to a record high of USD 3,500 per ounce.
Debon Securities' research report points out that in the long term, gold prices are expected to continue to rise driven by factors such as the expansion of the dollar scale; in the short term, the continued rise in expectations for Federal Reserve interest rate cuts and recent short-term stimuli from CPI and other data are likely to allow gold prices to end their fluctuations and return to an upward trend, with opportunities for gold and related stocks gradually emerging