Zhaojin Mining hits 52-week low as DB cuts gold price forecast
Zhaojin Mining (1818.HK) fell nearly 3% during regular trading to HK$17.75, setting a new 52-week low, with turnover hitting HK$124 million.
The decline came after Deutsche Bank sharply cut its third and fourth-quarter gold price forecasts to $4,300 and $4,800 per ounce, respectively, citing cautious investor sentiment toward U.S. monetary policy and reduced demand for gold investments. The move weighed heavily on gold miners listed in Hong Kong, dragging Zhaojin Mining lower along the sector.
Additionally, the company executed a block trade before market open totaling approximately HK$20.2 million.
Source: HK Stock Market Update The copyright of this article belongs to the original author/organization.
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