Changes in Hong Kong stocks | Gold stocks collectively opened higher, small farmers exploded, combined with geographical easing, and spot gold once surpassed 4,300 US dollars

The Zhitong Finance App learned that gold stocks were collectively higher. As of press release, Chifeng Gold (06693) rose 9.08% to HK$38.94; Lingbao Gold (03330) rose 8.26% to HK$23.34; Shandong Gold (01787) rose 7.83% to HK$23.4; Zhaojin Mining (01818) rose 6.77% to HK$24.3; Zijin Mining (02899) rose 5% to HK$36.96.

According to the news, on August 6, spot gold broke through the 4,300 US dollars/ounce mark in the intraday market, the first time since June 18. As of press release, spot gold was reported at $4274.74 per ounce. Only 44,000 new US ADP farmers were added in July, which is less than the 75,000 expected by the market, indicating that the cooling of employment is beginning to ease the pressure on the Federal Reserve to raise interest rates. In terms of the geographical situation, the US and Iran have made positive progress in negotiations on reopening the Strait of Hormuz. Market expectations for reaching an interim agreement have heated up, and international oil prices have dropped sharply, weakening concerns about energy inflation.

CITIC Securities believes that gold is still in a big bull market due to the accelerated expansion of the US fiscal deficit, difficulties in bridging geographical rift under anti-globalization, and continued support for global central bank purchases. The current retracement is close to the historical extreme, and the area around $4,000 per ounce is likely to be at the bottom of this round. Looking ahead to the market, it is expected that the impact of the situation in the Strait of Hormuz on gold prices will shift from suppression to boost. The Federal Reserve's monetary policy may be more optimistic than market expectations. Combined with the sharp rise in US military spending, the deficit is expected to return to an upward channel within the year.