Golden stocks have fallen again. As of press time, Lingbao Gold (03330) fell by 3.04% to 2.87 Hong Kong dollars; Zijin Mining Group (02899) fell by 2.93% to 15.92 Hong Kong dollars; SD Gold (01787) fell by 2.27% to 15.48 Hong Kong dollars.
According to the WiseNews APP, golden stocks have fallen again. As of press time, Lingbao Gold (03330) fell by 3.04% to 2.87 Hong Kong dollars; Zijin Mining Group (02899) fell by 2.93% to 15.92 Hong Kong dollars; SD Gold (01787) fell by 2.27% to 15.48 Hong Kong dollars; China Goldintl (02099) fell by 2.18% to 49.4 Hong Kong dollars.
On the news front, hawkish officials from the US Federal Reserve stated that there will be no interest rate cuts this year and warned that there is upward risk of inflation. Coupled with multiple US economic data exceeding expectations, precious metals are under pressure and the price of gold fell nearly 1% on Wednesday, falling below the $2,300 level. In addition, US new home sales in May totaled 619,000 annually, the lowest since November 2023. In the forex market, the US dollar broke through the 160 level against the Japanese yen and once rose to a daily high of 160.87, the highest since December 1986. The strong US dollar once again puts pressure on precious metals.