Understanding the Market | Gold stocks are generally active as US CPI data boosts interest rate cut expectations, and tensions in the Middle East rise again
Gold stocks are generally active, with WanGuo Gold Group rising 5.56% to HKD 33.25; Lingbao Gold rising 2.68% to HKD 12.24; Chifeng Gold rising 2.1% to HKD 29.15; and ZHAOJIN MINING rising 1.48% to HKD 20.55. In terms of news, on June 12, spot gold rose above USD 3,370 per ounce, increasing by 0.5% during the day. The U.S. May CPI data was all below expectations, with core CPI only increasing by 0.1%. Subsequently, Trump again called for the Federal Reserve to cut interest rates by 100 basis points. Geopolitically, tensions in the Middle East are escalating. According to CCTV News, due to the intensifying regional tensions, the U.S. State Department has authorized the departure of non-essential personnel and their families from Bahrain and Kuwait, and U.S. military families in Bahrain can also temporarily leave the country. Minsheng Securities pointed out that in the medium to long term, the central bank's purchase of gold and the weakening of U.S. dollar credit are the main themes, with ongoing global trade concerns and escalating geopolitical conflicts, leading to an optimistic outlook for the upward movement of gold prices
According to Zhitong Finance APP, gold stocks are generally active, with the International Gold Group (03939) rising 5.56% to HKD 33.25; Lingbao Gold (03330) rising 2.68% to HKD 12.24; Chifeng Gold (06693) rising 2.1% to HKD 29.15; and ZHAOJIN MINING (01818) rising 1.48% to HKD 20.55.
On the news front, on June 12, spot gold rose above USD 3,370 per ounce, up 0.5% for the day. The U.S. May CPI data fell short of expectations, with core CPI only increasing by 0.1%. Subsequently, Trump again called for the Federal Reserve to cut interest rates by 100 basis points. Geopolitically, tensions in the Middle East are escalating. According to CCTV News, due to the intensifying regional tensions, the U.S. State Department has authorized the departure of non-essential personnel and their families from Bahrain and Kuwait, and U.S. military families in Bahrain may also temporarily leave the country. Minsheng Securities pointed out that in the medium to long term, the central bank's purchase of gold and the weakening of U.S. dollar credit are the main themes, with global trade concerns still present, coupled with escalating geopolitical conflicts, leading to an optimistic outlook for the upward movement of gold prices
