Changes in US stocks | Gold stocks generally rose, and Jintian (GFI.US) rose more than 9%

The Zhitong Finance App learned that on Wednesday, gold stocks generally rose, with Jintian (GFI.US) up more than 9%, AngloGold (AU.US) up nearly 9%, Harmony Gold (HMY.US) and Kinross Gold (KGC.US) up more than 8%, Coldaren Mining (CDE.US) up more than 7%, Newman Mining (NEM.US) rising nearly 7%, and US Gold (USAU.US) rising more than 4%. International gold prices continued to rise. Spot gold broke through the 4220.00 US dollars/ounce mark. The latest report was 4220.05 US dollars/ounce, up 3.50% during the day; the main COMEX gold futures company recently reported 4279.40 US dollars/ounce, up 3.05% during the day.

According to the news, as the market anticipated that the US and Iran might reach an interim agreement and reopen the Strait of Hormuz, concerns about inflation have abated, and traders have also begun to cut their bets on further interest rate hikes by the Federal Reserve, driving up the price of gold. Currently, the market expects the Federal Reserve to raise interest rates once before the end of the year, but just last week, the market also expected to raise interest rates twice. Since gold itself does not generate interest, monetary policy tightening has been reduced, which is beneficial to gold.

Ryan McKay, a senior commodity strategist at TD Securities, said that the market's expectations for an agreement between the US and Iran, as well as concerns about broader economic risks, have gradually subsided, jointly driving up precious metals prices. Mackay wrote in a report: “The current price levels of gold and silver may also trigger an inflow of funds from bears to make up. The Bank of Korea has restarted buying gold, which has also become a positive catalyst for the rise in gold prices. At the same time, recent capital inflows from Asian gold ETFs also confirm that Asian market sentiment has changed over the past few weeks.”