Understanding the Market | Gold stocks continue recent upward trend, international gold prices hit a new historical high, and the performance of the precious metals sector in the first half of the year is impressive

Gold stocks continue to rise, with CHIFENG GOLD up 8.81%, LINGBAO GOLD up 5.13%, SD GOLD up 5.02%, and ZHAOJIN MINING up 3.71%. On September 8, the London spot gold price hit a historic high, reaching a maximum of $3,635 per ounce. This year, spot gold has accumulated an increase of $1,000 per ounce, a rise of 38%. A report from Dongguan Securities shows that the precious metals sector's operating income in the first half of the year was 188.253 billion yuan, a year-on-year increase of 27.15%; net profit was 9.682 billion yuan, a year-on-year increase of 64.71%. CITIC Construction Investment believes that global liquidity will support gold prices and expects that the Federal Reserve's interest rate cuts will further impact gold prices