Understanding the Market | Gold stocks rise collectively as non-farm data falls short of expectations, gold prices rebound violently; institutions say interest rate cut trades support gold prices
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Gold stocks rose collectively, with LINGBAO GOLD up 7.36%, CHIFENG GOLD up 6.29%, SD GOLD up 5.19%, and ZHAOJIN MINING up 4.72%. The U.S. non-farm payrolls for July fell far below expectations, increasing the likelihood of interest rate cuts, leading to a sharp rise in gold prices, with COMEX gold futures breaking through $3,400. Huayuan Securities pointed out that interest rate cut trades will provide momentum for rising gold prices, and it is expected that U.S. monetary policy in the second half of the year will support gold prices, suggesting attention to phased allocation opportunities
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