Understanding the Market | Gold Stocks Continue Recent Uptrend, ZIJIN GOLD INTL Hits New High, New York Futures Gold Price Breaks $4,000
Gold stocks continue their recent upward trend. As of the time of writing, CHIFENG GOLD is up 6.57%, trading at HKD 35.36; ZIJIN GOLD INTL is up 3.8%, trading at HKD 152.8; SD GOLD is up 2.97%, trading at HKD 40.86; TONGGUAN GOLD is up 2.31%, trading at HKD 3.1. On the news front, recently, due to the ongoing "shutdown" crisis of the U.S. federal government, increased market expectations for multiple interest rate cuts by the Federal Reserve, and ongoing geopolitical conflicts in various regions around the world, investors have been continuously increasing their holdings in gold as a safe haven, driving international gold prices to new highs. On Tuesday, the gold futures price on the New York Mercantile Exchange briefly broke through USD 4,000 per ounce. This is the first time in history that New York gold futures prices have surpassed this threshold
According to Zhitong Finance APP, gold stocks continue their recent upward trend. As of the time of publication, CHIFENG GOLD (06693) rose by 6.57% to HKD 35.36; ZIJIN GOLD INTL (02259) increased by 3.8% to HKD 152.8; SD GOLD (01787) went up by 2.97% to HKD 40.86; TONGGUAN GOLD (00340) climbed by 2.31% to HKD 3.1.
On the news front, recently, due to the ongoing "shutdown" crisis of the U.S. federal government, increased market expectations for multiple interest rate cuts by the Federal Reserve, and ongoing geopolitical conflicts in various regions around the world, investors have been continuously increasing their holdings of gold as a safe haven, driving international gold prices to new highs. On Tuesday, the gold futures price on the New York Mercantile Exchange briefly broke through USD 4,000 per ounce. This marks the first time in history that New York gold futures prices have surpassed this threshold
