According to the Wisdom Finance app, golden stocks generally rebounded. As of the time of publication, China Gold International (02099) rose 4.8% to HKD 42.55; Lingbao Gold (03330) rose 2.25% to HKD 3.18; Zhaojin Mining (01818) rose 2.31% to HKD 13.26; SD Gold (01787) rose 0.88% to HKD 16.

On the news front, US second-quarter GDP recorded 2.8%, higher than the expected 2%, and interest rate futures continue to price in bets on the Federal Reserve's interest rate cuts beginning in September. CME shows that interest rate futures traders maintain the expectation of three cumulative interest rate cuts by 2024, with an 88.1% probability of the first cut in September and more than 50% probabilities of cuts in November and December.

Galaxy Securities pointed out that the short-term combination of "soft landing + preventive interest rate cuts" is not conducive to further increase in the gold price, but in the medium and long term, if Trump returns to the White House, his weak dollar, large fiscal and trade policy uncertainties may lead to further increase in gold. The bank continues to maintain the judgment that the Federal Reserve may cut rates for the first time in September and may cut them for the second time in December.