Understanding the Market | Gold stocks collectively decline as Powell reiterates "not in a hurry to cut interest rates" while the market focuses on U.S. inflation data
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Gold stocks fell collectively, with LINGBAO GOLD down 3.65%, CHINAGOLDINTL down 2.9%, and SD GOLD down 2.36%. Gold prices retreated to USD 2,887 per ounce, and Federal Reserve Chairman Jerome Powell reiterated that there is "no rush to cut interest rates," with the market focusing on U.S. inflation data. Huatai Securities pointed out that although gold may fluctuate in the short term, the structural driving factors for gold assets remain in the medium to long term, and gold is expected to maintain relative performance
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