Understanding the Market | Gold stocks collectively opened lower, strong non-farm data puts pressure on gold, institutions remain optimistic about mid-term gold price increase
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Gold stocks opened lower collectively, with LINGBAO GOLD down 4.03%, CHIFENG GOLD down 3.46%, CHINAGOLDINTL down 1.66%, and SD GOLD down 1%. The U.S. unemployment rate for May was 4.2%, with non-farm payrolls increasing by 139,000, both in line with market expectations, putting pressure on gold. Analysts believe the data suggests the Federal Reserve will maintain the status quo, which is unfavorable for gold in the short term. However, Galaxy Securities pointed out that the tariff policy will increase market uncertainty, potentially driving gold prices up in the medium term
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