Lingbao Gold falls 8% amid rising US rate expectations
Lingbao Gold (3330.HK) fell 8% during regular trading to HK$14.05.
The move came as the precious metals sector faced pressure from rising Federal Reserve rate hike expectations and Bank of America's decision to cut its gold price forecast for this year by 14% to $4,360 per ounce. Major miners including Zijin Mining dropped more than 4%, while Lingbao Gold and Zhaojin Mining posted declines between 3% and 8.6%.
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