Understanding the Market | Gold stocks generally weakened, the US dollar index slightly rose, suppressing gold prices. The market is focused on Powell's speech and the progress of geopolitical conflicts
Gold stocks generally weakened. As of the time of writing, Lingbao Gold fell 4% to HKD 11.03; Chifeng Gold dropped 2.82% to HKD 24.1; SD GOLD decreased by 2.79% to HKD 26.46; CHINAGOLDINTL fell 2.52% to HKD 79.25; Zijin Mining declined 2.13% to HKD 22.98. On the news front, the market is awaiting Federal Reserve Chairman Jerome Powell's public speech later this week, while also paying attention to the possibility of easing tensions in Eastern Europe. The slight rise in the US dollar index has put pressure on gold prices, leading to a slight decline in international gold prices on Monday. CITIC Futures pointed out that looking ahead, the trend of gold will mainly depend on the Federal Reserve's policy path and geopolitical developments. If the Federal Reserve signals a stronger rate cut, or if geopolitical conflict risks escalate, gold prices are expected to continue rebounding; conversely, if economic data remains strong and suppresses rate cut expectations, or if geopolitical tensions ease, gold may face downward pressure. Investors should focus on this week's FOMC meeting minutes and Powell's speech at Jackson Hole
According to Zhitong Finance APP, gold stocks generally weakened. As of the time of publication, Lingbao Gold (03330) fell 4% to HKD 11.03; Chifeng Gold (06693) fell 2.82% to HKD 24.1; Shandong Gold (01787) fell 2.79% to HKD 26.46; China Gold International (02099) fell 2.52% to HKD 79.25; Zijin Mining (02899) fell 2.13% to HKD 22.98.
On the news front, the market is awaiting Federal Reserve Chairman Jerome Powell's public speech later this week, while also paying attention to the possibility of easing geopolitical conflicts in Eastern Europe. The slight rise in the US dollar index has put pressure on gold prices, which saw a slight decline on Monday. CITIC Futures pointed out that looking ahead, the trend of gold will mainly depend on the Federal Reserve's policy path and geopolitical developments. If the Federal Reserve signals a stronger rate cut, or if geopolitical conflict risks escalate, gold prices are expected to continue rebounding; conversely, if economic data remains strong and suppresses rate cut expectations, or if geopolitical tensions ease, gold may face downward pressure. Investors should focus on this week's FOMC meeting minutes and Powell's speech at Jackson Hole
