Zhaojin Mining plunges over 10% on gold price collapse
Zhaojin Mining (1818.HK) plunged 10.37% during regular trading to HK$16.400, marking a 52-week low with turnover of HK$341 million.
The decline came after spot gold prices lost the key $4000 level to trade at $3977.21 amid rising US rate hike expectations and PCE data release. Hong Kong gold miners faced broad pressure with Zijin Mining falling over 6% to near ten-month lows while Shandong Gold and Lingbao Gold dropped 6% to 9%. Deutsche Bank earlier cut its Q3 gold price forecast by 22% to $4300, further dampening sector sentiment.
Source: HK Stock Market Update The copyright of this article belongs to the original author/organization.
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