Today, Hong Kong-listed gold stocks collectively opened lower. As of the time of writing, $ZIJIN MINING (02899.HK)$ 、 $SD GOLD (01787.HK)$ fell nearly 5%. $LINGBAO GOLD (03330.HK)$Fell more than 4%, $WANGUO GOLD GP (03939.HK)$、 $ZHAOJIN MINING (01818.HK)$down over 3%, $ZIJIN GOLD INTL (02259.HK)$ Dropped nearly 3%.
In terms of market news, spot gold broke below the USD 3,960 per ounce level early this morning, retreating nearly USD 100 from its recent highs, while COMEX gold futures closed down 1.95%. According to reports, on the evening of October 9 local time, Khalil al-Haya, a senior Hamas official and chief negotiator, issued a statement announcing the conclusion of a ceasefire agreement. The Israeli government approved the Gaza ceasefire agreement in the early hours of October 10.
Baocheng Futures noted that the short-term ceasefire agreement reached between Israel and Hamas has led to a rapid easing of geopolitical tensions, compounded by significant gains recorded earlier, resulting in stronger intentions among short-term bulls to take profits. Huatai Futures stated that after gold prices hit a record high, profit-taking sentiment may temporarily weigh on prices. However, at this stage, neither the risk-aversion premium nor the Fed’s dovish policy logic has undergone significant changes, and future prices are expected to rise further.
Editor/KOKO
