Market Insight | Gold stocks rise again, LINGBAO GOLD surges over 3%, market awaits non-farm data guidance

Gold stocks rose again. As of the time of publication, Lingbao Gold rose by 3.13% to HKD 3.3, Zijin Mining rose by 2.89% to HKD 17.82, Shandong Gold rose by 2.22% to HKD 16.58, and Zhaojin Mining rose by 2.13% to HKD 14.36. On the news front, weaker-than-expected U.S. economic data boosted expectations of a Fed rate cut, keeping spot gold prices firm. Gold prices are hovering near $2360 per ounce. The market is currently awaiting non-farm payroll data for clearer guidance. According to foreign media surveys, non-farm payrolls for the previous month are estimated to have increased by 190,000, with average hourly earnings expected to grow by 3.9% year-on-year, the lowest level in three years. Looking ahead to the second half of the year, industry insiders believe that factors such as expectations of a Fed rate cut, increased geopolitical uncertainties, and solid global demand will continue to support a high probability of gold price increases