On August 31, ZIJIN MINING fell 5.49% in regular trading, trading at HK$36.10/share, with turnover of HK$286 million. The decline came as a sharp selloff in gold prices, triggered by hawkish signals from the Federal Reserve's Jackson Hole symposium, dragged down the broader mining sector.
Fed Chair Waller's speech maintained a firm commitment to the 2% inflation target and explicitly preserved optionality for further monetary tightening if inflation rebounds, disappointing markets that had been positioning for a dovish pivot. The hawkish tone drove the U.S. dollar and Treasury yields higher, pressuring gold and silver prices sharply lower as leveraged long positions unwound.
The selloff was broad-based across the Diversified Metals and Mining sector. WANGUO GOLD GP fell 6.35%, JIAXIN INTL RES dropped 6.48%, CMOC declined 4.92%, MMG lost 3.47%, and LYGEND RESOURCE shed 2.25%. ZIJIN MINING's fundamentals remain robust, with H1 net profit attributable to shareholders reaching RMB 39.17 billion, up 68.17% year-over-year, on revenue of RMB 194.18 billion. The current pullback is primarily sentiment-driven rather than fundamental.
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