Understanding the Market | Gold stocks rise collectively as spot gold breaks through the $2,700 mark, market focuses on tonight's U.S. inflation data
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Gold stocks rose collectively, with ZHAOJIN MINING up 5.84%, LINGBAO GOLD up 4.73%, and CHINAGOLDINTL up 2.94%. Spot gold broke through $2,700, reported at $2,701.25 per ounce, reaching a two-week high. Data from the People's Bank of China shows that official gold reserves increased to 72.96 million ounces. The market is focused on tonight's U.S. November CPI data, with inflation expected to rise from 2.6% to 2.7%
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