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Silver plummeted and the trend was too scary! The silver price successfully achieved the second target. The latest analysis of silver trade by well-known institutions.
During the Asian market on Friday, spot silver maintained its intraday decline after yesterday's sharp drop, and currently silver is trading near $27.70/oz. According to Economies.com, the silver price has reached its second target of $27.62/oz. Technically, there is support for further downward movement in the silver price.
Gold, silver, and copper all experienced a sharp decline! What happened?
The price of gold and silver suddenly plunged.
Hang Seng Index fell by 306 points, Meituan dropped more than 5%, and resource and energy stocks were weak.
The USD/JPY exchange rate fell to the edge of 152, triggering a global stock market decline due to arbitrage trading and unwinding. As for the Hong Kong stock market, the Hang Seng Index opened low by 50 points and the decline expanded. It fell to 16,964 points after a drop of 346 points, and closed at 17,004 points, a decrease of 306 points or 1.8% for the whole day. The national index fell 125 points or 2.1%, closing at 6,016 points. The Hang Seng Tech Index fell 69 points or 2%, closing at 3,421 points. The total turnover of the market for the day was HKD 105.734 billion, with a net outflow of RMB 0.36 billion and 1.64 billion in the southbound trading under the Shanghai and Shenzhen-Hong Kong Stock Connect. The chip equipment manufacturer ASMPT (00522.HK) fell after its performance announcement yesterday.
Hong Kong stock market mid-day review: Hang Seng Index fell by 1.42%, recording 3 consecutive declines. Technology and financial stocks and other weights fell across the board. Photovoltaic stocks bucked the trend and rose.
The three major indexes continue to decline, all recording three consecutive falls.
Express News | Hong Kong gold stocks weakened in early trading, with China Gold International and Chi Silver Group Limited falling more than 6%.
Hong Kong stock market anomaly: Golden industrial concept collectively fell, Zijin Mining Group fell more than 4%, and gold prices continued to fall to $2370.
On July 25, Bullion stocks in Hong Kong fell collectively. Among them, Chinagoldint'l fell by 9%, Zhaojin Mining fell by over 7%, Lingbao Gold fell by nearly 7%, Sd Gold and Chi silver gp fell by over 5%, and Zijin Mining fell by over 4%. In terms of news, due to traders' profit-taking and the rise in US Treasury yields, the international gold price surged and fell back. London gold fell to $2,370/ounce at one point in today's session, hitting a new low since July 11.
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