The Huaxi Securities Research Report said that the short-term rebound in gold prices is driven by revisions in expectations and sentiment, but the medium- to long-term support logic remains stable — the central bank's trend of gold purchases, the trend of de-dollarization, and expectations of falling high real interest rates on US bonds form “bottom line support” for gold prices. Standard Chartered Bank expects the price of gold to move back towards the 5,000 US dollar mark. A steady recovery in gold prices is expected to gradually repair the fundamentals and valuation of the gold jewellery sector: the sharp fluctuation in gold prices in the first half of the year led to only 50 tons of domestic jewellery demand in Q2. Consumer demand for terminals was suppressed to varying degrees in Q2, but as the rebound in gold prices stabilized, consumer demand, which was suppressed earlier, is expected to gradually be released. It is recommended to focus on leading companies' steady recovery in the second half of the year.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.