On September 2, LINGBAO GOLD fell 5.36% in regular trading, trading at 20.54 HKD/share, with turnover of approximately 41.49 million HKD. The decline extends a multi-day selloff across the gold mining sector triggered by persistent hawkish signals from the U.S. Federal Reserve.

On the news front, Fed Chair Waller reiterated at the Jackson Hole central bankers symposium that the 2% inflation target remains firm and non-negotiable, and that rate hikes remain on the table if underlying inflation does not return toward target at a sufficient pace. Market expectations for a September rate hike have continued to climb, driving a rebound in the U.S. dollar and short-end Treasury yields — both headwinds for gold prices. Spot gold has pulled back sharply from its recent record high near 4,696 USD/oz to around the 4,454 USD level.

The gold sector saw broad-based selling pressure. Within the Gold sector, SD GOLD fell 4.9%, CHINAGOLDINTL fell 4.55%, ZHAOJIN MINING fell 4.25%, ZIJIN GOLD INTL fell 4.1%, and CHIFENG GOLD fell 3.53%. Although LINGBAO GOLD reported a strong first-half performance with attributable profit surging 46.45% year-over-year to 972.4 million yuan, the systemic sector selloff has overridden individual stock fundamentals.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)