Understanding the Market | Gold stocks' afternoon decline widens, China Gold International and CHIFENG GOLD drop nearly 4%
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Gold stocks expanded their decline in the afternoon, with China Gold International falling 3.82% to HKD 125.8, CHIFENG GOLD dropping 3.74% to HKD 28.34, and SD GOLD decreasing 3.7% to HKD 33.3. Spot gold fell below USD 3,640 per ounce, as the Federal Reserve cut interest rates by 25 basis points, with Powell stating that the policy balance has shifted. Huatai Futures believes that gold prices may be under pressure in the short term, but the logic of the easing cycle remains unchanged; Dongxing Securities pointed out that there is a risk of a short-term pullback in gold
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