Market Insight | Gold stocks generally weaken, current rate cut expectations are already sufficient, international gold prices face the risk of a temporary pullback
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Gold stocks are generally weakening, with Lingbao Gold falling by 4.01% to HKD 3.35, China Gold International falling by 1.44% to HKD 41, and SD-GOLD falling by 0.95% to HKD 16.68. On Thursday, the spot gold price fell to $2480, with the risk of a phased pullback in gold prices. Shengbao Bank pointed out that the gold trend is exhausted and is paying attention to the impact of the upcoming Jackson Hole meeting on the market. Despite the increase in net long positions, the overall market pricing remains biased to the downside, leaving investors with room to increase their gold allocations
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