Understanding the Market | Gold stocks fell again, with SD GOLD dropping over 5%, and spot gold briefly falling below the $3,310 mark
Gold stocks are once again under pressure, as of the time of publication, SD-GOLD fell 5.09% to HKD 27.05; CHINAGOLDINTL fell 3.44% to HKD 68.7; LINGBAO GOLD fell 2.68% to HKD 9.79; CHIFENG GOLD fell 2.33% to HKD 25.2. On the news front, on July 7, spot gold briefly fell below the USD 3,310 mark, currently reported at USD 3,313.67 per ounce. Baocheng Futures stated that with U.S. non-farm payroll data exceeding market expectations, the Federal Reserve's interest rate cut expectations have decreased, and the probability of three rate cuts within the year has significantly declined, putting pressure on gold prices. Continuous attention is needed on the new tariff policies in the U.S. after July 9, with current expectations being relatively positive, and tariff negotiations with Vietnam and India have made some progress. Gold prices are expected to remain under pressure
According to Zhitong Finance APP, gold stocks are under pressure again, as of the time of writing, Shandong Gold (01787) fell by 5.09%, trading at HKD 27.05; China Gold International (02099) fell by 3.44%, trading at HKD 68.7; Lingbao Gold (03330) fell by 2.68%, trading at HKD 9.79; and Chifeng Gold (06693) fell by 2.33%, trading at HKD 25.2.
On the news front, on July 7, spot gold briefly fell below the USD 3,310 mark, currently reported at USD 3,313.67 per ounce. Baocun Futures stated that with the U.S. non-farm payroll data exceeding market expectations, the Federal Reserve's interest rate cut expectations have decreased, and the probability of three rate cuts within the year has significantly declined, putting pressure on gold prices. Continuous attention is being paid to the new tariff policies in the U.S. after July 9, with current expectations being relatively positive, and tariff negotiations with Vietnam and India have made some progress. Gold prices are expected to remain under pressure
