Understanding the Market | Gold stocks' gains expanded in the late trading session, gold futures broke through $3,300, institutions say the scissor difference of gold stocks is converging, welcoming a window period
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Gold stocks expanded their gains in the closing hours, with CHIFENG GOLD rising 20.58% and DRAGON MINING rising 16.21%. COMEX gold broke through USD 3,300 per ounce, and UBS and Goldman Sachs raised their gold price forecasts to USD 3,500 and USD 3,700, respectively. Tianfeng Securities pointed out that the valuation of gold stocks is at the 20th percentile over the past five years, and market confidence in gold companies has strengthened, leading to a window period for the "scissors gap" of gold stocks to converge
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