Gold price rebound lifts nine gold stocks into positive territory this month, Chifeng Gold surges over 20%

Price ActionGeopolitics
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Summary · why it matters

Entering July, cooling expectations for Federal Reserve rate hikes have driven a rebound in gold prices, with nine out of ten A-share gold stocks posting gains for the month. As of July 6, Chifeng Gold led with a cumulative rise of 20.06%, while Shanjin International and Western Gold climbed 18.88% and 15.18% respectively. Gold stocks underwent deep corrections in the first half of the year, with seven of the ten names pulling back more than 50% at one point. Shandong Gold suffered the steepest drawdown of 62.05% and led the sector's decline with a 40.35% drop. Chifeng Gold and Shanjin International each issued announcements on abnormal stock trading volatility after their share prices surged, noting that the cumulative deviation exceeded 20% and that semi-annual financial data is still being compiled. Market participants believe that after half a year of adjustment, gold stock valuations have returned to a reasonable range, and the gold price rebound is catalyzing a rotation of funds. However, during the interim reporting window, caution is needed regarding the risk of a second dip if earnings fall short of expectations.

Impact on stocks 4

Others▲ · 4 stocks
Shandong Gold Mining Co Ltd
600547
▲ PositiveDemandrelevance

Gold price rebound lifts gold stocks, but Shandong Gold had steepest drawdown and is mentioned as sector laggard.

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