Market Insight | Gold stocks generally rise as US CPI slows more than expected, boosting rate cut expectations. Gold price breaks through the $2400 mark

Gold stocks are generally rising. As of the time of publication, Lingbao Gold rose by 5.64% to HKD 3.56; China Gold International rose by 3.14% to HKD 54.15; Zhaojin Mining rose by 2.22% to HKD 15.64; and Zijin Mining rose by 1.02% to HKD 17.8. On the news front, the U.S. released inflation data for June last night, with both overall and core CPI significantly lower than market expectations. After the data was released, interest rate futures fully priced in a rate cut in September. Overnight, gold and silver prices rose in the short term, with spot gold breaking through the $2400 per ounce mark for the first time since May 22. Industry insiders previously stated that looking ahead to the second half of the year, with expectations of a rate cut by the Federal Reserve, increased uncertainty in geopolitical situations, solid global demand, and other supporting factors, the probability of gold price rising remains high