Understanding the Market | Gold stocks continue to rise, with CHINAGOLDINTL and LINGBAO GOLD both up over 6%
Gold stocks rose again. As of the time of publication, China Gold International rose by 6.46%, trading at HKD 94.8; Lingbao Gold rose by 6.08%, trading at HKD 12.22; Zhaojin Mining rose by 3.78%, trading at HKD 22.5; and SD-GOLD rose by 3.54%, trading at HKD 28.66. On the news front, Federal Reserve Chairman Jerome Powell stated on Friday at the Jackson Hole Global Central Bank Annual Meeting that the downside risks facing the U.S. labor market have increased, and the shift in the balance of risks may make it appropriate for the Federal Reserve to adjust its policy stance. This is the strongest signal Powell has sent so far, suggesting that the Federal Reserve may cut interest rates as early as September. Huaxin Securities pointed out that the Federal Reserve is still in a rate-cutting cycle, and Powell's remarks have injected a boost into the precious metals market, with a positive outlook for further increases in gold prices. Additionally, it is worth noting that reports indicate Trump announced on social media that he has "immediately" removed Federal Reserve Governor Lisa Cook from her position, raising concerns about the independence of the Federal Reserve
According to Zhitong Finance APP, gold stocks have risen again. As of the time of writing, China Gold International (02099) is up 6.46%, trading at HKD 94.8; Lingbao Gold (03330) is up 6.08%, trading at HKD 12.22; Zhaojin Mining (01818) is up 3.78%, trading at HKD 22.5; and SD GOLD (01787) is up 3.54%, trading at HKD 28.66.
On the news front, Federal Reserve Chairman Jerome Powell stated on Friday at the Jackson Hole Global Central Bank Annual Meeting that the downside risks facing the U.S. labor market have increased, and the shift in the balance of risks may make it appropriate for the Federal Reserve to adjust its policy stance. This is the strongest signal Powell has sent so far, suggesting that the Fed may cut interest rates as early as September. Huaxin Securities pointed out that the Federal Reserve is still in a rate-cutting cycle, and Powell's remarks have injected confidence into the precious metals market, with expectations for further increases in gold prices. Additionally, it is worth noting that reports indicate Trump announced on social media that he has "immediately" removed Federal Reserve Governor Lisa Cook from her position, raising concerns about the independence of the Fed
