On October 9, SD GOLD rose 3.15% in regular trading, trading at 19.0 HKD/share, with Turnover of 35.5682 million HKD.
The catalyst behind the move is a sharp reduction in Federal Reserve rate hike expectations. U.S. inflation data for August came in below expectations, causing market-implied odds of an October hike to tumble from roughly 70% to around 25%. Lower rate hike expectations reduce the opportunity cost of holding non-yielding gold, underpinning a recovery in bullion prices and lifting gold mining equities such as SD GOLD.
Within the Gold sector, ZIJIN GOLD INTL rose 2.86%, ZHAOJIN MINING rose 2.22%, CHIFENG GOLD rose 3.48%, CHINAGOLDINTL rose 2.19%, and LINGBAO GOLD rose 1.52%.
(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.)