As the tide of risk aversion recedes, international gold prices have dipped to a low of 3120 dollars per ounce, but long-term support factors still exist.
① The China-US tariff war has come to a temporary conclusion, market risk aversion has diminished, and international gold prices have pulled back nearly $380 from a high of $3,500. ② On May 15, international gold prices dipped to a low of $3,120 per ounce, COMEX gold fell over 2%, and the Gold fund dropped more than 3%.
Hong Kong stocks movement | Golden Industrial Concept stocks ranked high in gains as Powell delivered dovish remarks, leading to a significant rebound in international gold prices.
The Golden Industrial Concept stocks are performing well, as of the time of writing, TONGGUAN GOLD (00340) is up 4.03%, trading at 1.29 HKD; CHINAGOLDINTL (02099) is up 3.75%, trading at 54 HKD; Chifeng Jilong Gold Mining (06693) is up 2.89%, trading at 24.95 HKD; ZHAOJIN MINING (01818) is up 2.06%, trading at 17.84 HKD.
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The Golden Industrial Concept is under pressure at the start, with LINGBAO GOLD (03330) dropping 2.54% as international gold prices fall below 3,200 dollars per ounce.
JW Financial News | At the beginning of trading, Golden Industrial Concept stocks are under pressure. As of this report, LINGBAO GOLD (03330) is down 2.54%, TONGGUAN GOLD (00340) is down 2.29%, ZHAOJIN MINING (01818) is down 2.35%, SD GOLD (01787) is down 1.75%, CHINAGOLDINTL (02099) is down 1.35%, and Zijin Mining Group (02899) is down 1.13%. In terms of news, on May 15, during the Asian market's early trading, spot gold is hovering at a low level, currently trading around 3183.50 dollars per ounce. Gold prices fell more than 2% on Wednesday, with an intraday low of 3167.94 dollars per ounce.
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The gains of the three major U.S. stock index futures narrowed to nearly flat, most Chinese concept stocks rose, Gold continued to adjust, and the Korean won rose significantly.
In Pre-Market Trading, the three major index futures are almost flat. Some Technology stocks have risen, with NVIDIA up about 2% and AMD up about 1.5%. Previously, both companies announced they would provide Semiconductors to an AI company in Saudi Arabia for a $10 billion Datacenter project. Pony.ai's stock rose over 16% in Pre-Market Trading, with reports that the company plans to apply for a confidential listing in Hong Kong, and Pony.ai has accumulated a rise of over 38% in the past five trading days.
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Be prepared for both possibilities.
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With the easing of trade tensions, Japanese stocks are poised for their longest rally since 2009, while U.S. Futures are down, and Gold has risen sharply by 30 dollars in the short term.
The Japan Tokyo Stock Index has risen for the 13th consecutive trading day, reaching its highest intraday increase since August 2009; the India SENSEX Index fell by 0.8%, and the Pakistan KSE-100 Index rose by 0.45%; the USD/JPY has slightly weakened, dropping by 0.35% during the day; spot Gold has increased by 0.61% to $3,254 per ounce.
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After the China-US meeting, Gold experienced a short-lived plunge, and many national Banks are still warning about investment risks. Why is there a reluctance for wild fluctuations?
① After China announced that an important consensus was reached in the China-U.S. meeting, spot Gold fell to $3260 per ounce, dropping over 2% at one point during the day. ② Recently, many national commercial Banks have continued to raise the subscription minimum amount for Gold accumulation Business and clearly remind that "investment has risks." ③ Referencing the past lessons from the Crude Oil Product treasure and paper Gold incidents, Banks do not wish for Gold to experience extreme volatility, especially in accumulation Gold Business.
Hong Kong stocks are moving | Golden Industrial Concept stocks are declining across the board as tariffs and geopolitical conflicts ease, putting significant pressure on international gold prices.
All Golden Industrial Concept stocks declined. As of the time of writing, LINGBAO GOLD (03330) fell by 5.83%, trading at HKD 8.89; SD GOLD (01787) fell by 5.51%, trading at HKD 22.3; Chifeng Jilong Gold Mining (06693) fell by 5.17%, trading at HKD 25.7.
Gold prices faced a "weekend storm" -- substantial progress in Sino-U.S. negotiations, ceasefire between India and Pakistan, negotiations between Russia and Ukraine, and talks between the U.S. and Iran.
Global risk aversion has receded, and Gold has plummeted. High-level economic and trade talks between China and the United States have reached important consensus and made substantial progress. The ceasefire agreement between India and Pakistan has been maintained on Sunday. Putin proposed to resume direct negotiations between Russia and Ukraine in Turkey on the 15th. The previously postponed fourth round of talks between the US and Iran has also begun.