Understanding the Market | Gold Stocks Rebound Collectively After Significant Drop in International Gold Prices, Institutions Remain Optimistic on Long-term Gold Outlook
Gold stocks collectively rebounded. As of the time of writing, LINGBAO GOLD rose 5.17% to HKD 9.36; CHIFENG GOLD rose 3.68% to HKD 28.15; SD GOLD rose 2.39% to HKD 23.55; ZHAOJIN MINING rose 2.07% to HKD 18.7. On the news front, on April 24th, during the Asian market's early session, gold prices rebounded, with spot gold's intraday increase expanding to 2%, reported at USD 3,358.25 per ounce; COMEX gold was reported at USD 3,366.6 per ounce, with an intraday increase of over 2%. CITIC Futures stated that they remain optimistic about gold in the long term. This week, key attention will be on the U.S. April PMI data and signals from the Federal Reserve regarding policy. Weak economic data may strengthen expectations for interest rate cuts, pushing gold prices back to high levels. Meanwhile, the progress of China-U.S. trade negotiations and the direction of Trump's policies remain key risk points, as sudden changes in market sentiment could trigger short-term volatility. Overall, gold still possesses allocation value under the dual support of safe-haven demand and easing expectations, but caution is needed regarding the dual impact of market sentiment and data
According to Zhitong Finance APP, gold stocks have collectively rebounded. As of the time of writing, Lingbao Gold (03330) rose by 5.17%, trading at HKD 9.36; Chifeng Gold (06693) increased by 3.68%, trading at HKD 28.15; Shandong Gold (01787) rose by 2.39%, trading at HKD 23.55; and Zhaojin Mining (01818) increased by 2.07%, trading at HKD 18.7.
In terms of news, on the morning of April 24th in the Asian market, gold prices rebounded, with spot gold's intraday increase expanding to 2%, trading at USD 3,358.25 per ounce; COMEX gold was at USD 3,366.6 per ounce, with an intraday increase of over 2%. CITIC Futures stated that they remain optimistic about gold in the long term. This week, key attention will be on the U.S. April PMI data and Federal Reserve policy signals. Weak economic data may strengthen expectations for interest rate cuts, pushing gold prices back to high levels. Meanwhile, the progress of China-U.S. trade negotiations and the direction of Trump's policies remain critical risk points, as sudden changes in market sentiment could trigger short-term volatility. Overall, gold still has allocation value under the dual support of safe-haven demand and easing expectations, but caution is needed regarding the dual impact of market sentiment and data
