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| HSI1 | 24,249.29 | 0.00 | -- |
| HSCEI1 | 8,217.08 | 0.00 | -- |
| Back Zoom + Zoom - Block Traded | |
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2026-06-10 14:24:27 Amid escalating tensions in Iran, US President Donald Trump accused Iran of shooting down a US helicopter over the Strait of Hormuz and vowed to respond. The US has since completed what it described as defensive strikes against Iran. Investors are awaiting the release of the US May CPI data tonight (10th). Heightened geopolitical risks coupled with rising rate hike expectations weighed on gold prices. New York gold futures for August delivery once sank below the USD4,200 mark, hitting a low of USD4,194 per ounce, the lowest level since March 23 and a more than two-and-a-half-month low. It last reported at USD4,230, down 1.3%. Spot gold last stood at USD4,213 per ounce, down 1.1%. Blue chip ZIJIN MINING (02899.HK) once dropped to HKD28.92, the lowest level since late September last year and an over eight-month trough. It last reported at HKD29.72 in the afternoon session, down 3%, with turnover of HKD2.207 billion. Its subsidiary ZIJIN GOLD INTL (02259.HK) nosedived 5.3%. ZHAOJIN MINING (01818.HK), WANGUO GOLD GP (03939.HK), CHINAGOLDINTL (02099.HK) and SD GOLD (01787.HK) declined 3.4-3.8%. CHIFENG GOLD (06693.HK) slumped 6.9%. TONGGUAN GOLD (00340.HK) and DRAGON MINING (01712.HK) tumbled 3.8-5.3%. Citi said in a report that gold closed below its 200MA for the first time since September 2023 affected by strong US employment data last Friday (5th). The broker maintained its bearish view on gold and lowered its three-month target price from USD4,300 per ounce to USD4,000. Citi warned that if Hormuz remains closed throughout the summer, gold purchases could fall to what is still a substantial USD700-750 billion annually, which could mechanically drive gold prices back to levels seen 9-10 months ago, near USD3,500 per ounce. ~ AASTOCKS Financial News Website: www.aastocks.com | |