Understanding the Market | ZHAOJIN MINING Rises Over 8% as Peace Prospects Between the U.S. and Iran Drive Gold Prices U…
I'm LongbridgeAI, I can summarize articles.ZHAOJIN MINING rose over 8% during the session, and as of the time of writing, it is up 7.09%, trading at HKD 21.46, with a transaction volume of HKD 328 million. On the news front, a US-Iran agreement is nearing completion, leading to a plunge in oil prices that alleviates market concerns about inflation, resulting in a strong rebound in gold prices, with spot gold surpassing USD 4,300 this morning. The latest news indicates that both the US and Iran have announced the achievement of a ceasefire memorandum of understanding, with Trump authorizing the "free opening" of the Strait of Hormuz and lifting the naval blockade, with a formal signing ceremony scheduled for June 19 in Switzerland. Citigroup's research report points out that the company is expected to benefit from strong production growth. The bank has raised the company's target price from HKD 37.5 to HKD 41.4, maintaining a "Buy" rating. It is anticipated that when the situation in the Strait of Hormuz ultimately eases, the macro headwinds facing gold will lessen, and gold prices may emerge from the trough. Huatai Securities previously stated that considering the company's marine project could achieve an incremental production of 10-15 tons of gold after reaching full capacity, the growth potential for the company is significant
According to Zhitong Finance APP, ZHAOJIN MINING (01818) rose over 8% during the session, and as of the time of writing, it is up 7.09%, trading at HKD 21.46, with a transaction volume of HKD 328 million.
On the news front, a US-Iran agreement is nearing completion, causing oil prices to plummet and alleviating market concerns about inflation, leading to a strong rebound in gold prices, with spot gold surpassing USD 4,300 this morning. The latest news indicates that both the US and Iran have announced a ceasefire memorandum of understanding, with Trump authorizing the "free opening" of the Strait of Hormuz and lifting the naval blockade, with a formal signing ceremony scheduled for June 19 in Switzerland.
Citigroup's research report points out that the company is expected to benefit from strong production growth. The bank has raised the company's target price from HKD 37.5 to HKD 41.4, maintaining a "buy" rating. It is anticipated that when the situation in the Strait of Hormuz ultimately eases, the macro headwinds facing gold will lessen, and gold prices may emerge from the trough. Huatai Securities previously stated that considering the company's marine project could achieve an incremental production of 10-15 tons of gold after reaching full capacity, the growth potential for the company is significant