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Hong Kong Stock Midday Review | The three indices had mixed results, with the Tech Index down 1.61%; semiconductor stocks weakened, with HUA HONG SEMI falling over 12%; some beverage Concept stocks rose, with ANDRE JUICE increasing by over 49%.
The Network Technology stocks weakened, KUAISHOU-W dropped by 2.91%, and NTES-S fell by 1.45%; the Hong Kong Retail Stocks rose across the board, with PRADA increasing by 4.08% and CHOW TAI FOOK rising by 3.82%; the Digital Health stocks declined, with JD HEALTH dropping by 3.55% and ALI HEALTH falling by 2.36%.
The decline in international gold prices has led to a widespread drop in Golden Industrial Concept stocks, with Chifeng Jilong Gold Mining (06693) falling by 4.04%.
Jinwu Financial News | Golden Industrial Concept stocks experienced a general decline, with Chifeng Jilong Gold Mining (06693) down 4.04%, TONGGUAN GOLD (00340) down 2.50%, CHINAGOLDINTL (02099) down 2.43%, Zijin Mining Group (02899) down 1.70%, ZHAOJIN MINING (01818) down 1.49%, SD GOLD (01787) down 1.48%, and LINGBAO GOLD (03330) down 1.21%. On the news front, there are signs of easing tariffs between the U.S. and China, with international gold prices declining. The New York futures gold closed at 3306 dollars, down 2.5%.
Hong Kong stocks move | Golden Industrial Concept collectively declines as trade agreement between the US and UK boosts risk appetite; spot gold now falls below the $3,280 threshold.
The Golden Industrial Concept stocks collectively declined. As of the time of writing, PERSISTENCE RES (02489) fell by 5.34%, priced at 1.24 Hong Kong dollars; Chifeng Jilong Gold Mining (06693) fell by 4.04%, priced at 26.15 Hong Kong dollars; TONGGUAN GOLD (00340) fell by 2.5%, priced at 1.17 Hong Kong dollars.
Here are the reasons for the sharp pullback in Gold! Gold price plummeted by 58 dollars according to FXStreet Analyst's trading analysis.
24K99 news: President Trump of the USA announced a trade agreement with the United Kingdom, which has increased market risk appetite. Additionally, the US dollar and US Treasury yields have surged significantly, causing spot Gold to plummet on Thursday (May 8).
Gold Futures Snap Three-day Winning Streak To Close Lower
The most aggressive expectations for Gold have arrived! Bank of America is fully confident: it will surge to 4000 dollars within the year.
① Analysts at Bank of America predict that gold prices could reach $4,000 per ounce in the second half of the year, which is one of the most aggressive forecasts currently on Wall Street; ② Bank of America believes that for gold prices to reach $4,000, certain specific conditions need to be met: an increase in gold investment and stabilization in jewelry demand; ③ In addition, the bank points out that geopolitical uncertainties caused by global trade and concerns over the U.S. government's fiscal outlook are driving the increase in gold prices by the end of the year.