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Market overview | All three major indices rose, with the Hang Seng Index closing up 0.62%; Gold and pharmaceutical stocks strengthened; POP MART surged nearly 4% to set a new historical high, while MEITU rose nearly 19%.
Network Technology stocks and Gold stocks strengthened, POP MART, POP MART, and BYD reached new historical highs, MEITU rose nearly 19 %.
Leading the surge in gold prices? Goldman Sachs: Chinese gold buyers are returning once again.
① After falling to slightly above $3,100 last week, international gold prices are undoubtedly experiencing a strong rebound this week, having returned to above the $3,300 mark overnight; ② In this regard, Analyst Adam Gillard from Goldman Sachs FICC believes that there is a clear logical support behind this trend: the buying power from China is once again returning.
Gold explosion! Gold prices surged nearly 30 dollars. FXStreet Senior Analyst's latest technical analysis on gold prices.
In the Wednesday session of Asia, spot Gold continued its strong upward trend, currently priced around 3320 dollars per ounce, having risen nearly 30 dollars during the day. FXStreet Senior Analyst Dhwani Mehta pointed out that with the continuing weakness of the dollar and increasing geopolitical tensions, Gold has maintained its upward momentum and has recovered to 3300 dollars per ounce.
Gold prices have returned to 3300, and Chinese buyers have come back.
Gold has risen again, returning to above $3,300. On Wednesday, AH Stocks gold stocks collectively rose, with Zijin Mining Group increasing by over 7%, while Western Region Gold, Hunan Gold Corporation, Sichuan Gold, and Chifeng Jilong Gold Mining also rose sharply.
Why did Gold suddenly surge? Asia's night trading saw a frenzy of buying, and COMEX urgently followed suit.
Goldman Sachs' latest discovery: Chinese Bids are returning strongly, and the open interest has reached a historical high, with COMEX following suit to Buy. More importantly, even though the gold price once dropped by 8%, Chinese investors are still not selling.
Hong Kong stock Concept tracking | Geopolitical risks escalate, Gold prices rise, Institutions are Bullish on long-term allocation in the Gold Sector (including Concept stocks).
The United Kingdom's Foreign Secretary, James Cleverly, stated that Israel's actions in Gaza are "unacceptable."
