According to the Wisdom Financial News App, golden industrial concept rebounding, as of press time, Zhaojin Mining (01818) rose 4.29%, reported HKD 13.62; Zijin Mining (02899) rose 3.48%, reported HKD 16.64; China Gold International (02099) rose 3.18%, reported HKD 51.80; China Gold International (01787) rose 2.78%, reported HKD 16.20.

On the news front, due to lower-than-expected US retail sales data, the market sentiment of the Fed's interest rate cut this year has intensified. The US dollar and bond yields fell, and gold futures rose on Tuesday. Data from the World Gold Council shows that despite the People's Bank of China suspending purchasing gold last month, the demand for gold by central banks around the world continues to grow.

According to Wells Fargo & Co, as the market gradually adapts to the Fed's maintenance strategy, gold may continue to consolidate throughout the summer. John LaForge, the bank's physical asset strategy director, said in an interview that he expects the Fed to cut interest rates until the last few months of this year. He added that the market is seeing clear signs that the Fed's aggressive monetary policy has reached its limit. Before that, the market will be affected by the natural rise and fall of retail markets. He pointed out that Asian consumers have always been an important driving force in the physical gold market, supporting gold prices to reach near-historical highs.

In addition, Ruth Crowell, CEO of the London Bullion Market Association (LBMA), said that the Chinese market "may be the biggest driving force for price discovery at the moment," and that "the growth of Asian demand for gold will continue."