Understanding the Market | Gold Stocks Lead the Gains as Powell Releases Dovish Remarks, International Gold Prices Significantly Rebound
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Gold stocks saw significant gains, with TONGGUAN GOLD rising 4.03% and CHINAGOLDINTL rising 3.75%. The dovish remarks from Federal Reserve Chairman Jerome Powell and the unexpected decline in the U.S. April PPI have increased market expectations for interest rate cuts, supporting a rebound in gold prices. COMEX gold futures rose 1.74% to $3,243.90 per ounce. CITIC Futures pointed out that market concerns over the progress of the China-U.S. trade agreement and the U.S. hardline stance towards the EU have heightened economic uncertainty, driving funds into safe-haven assets like gold
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