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Bubble Finance learned that on May 21, the A-share gold concept suffered a severe setback. Haotong Technology (301026sizzlinghotfreegame.SZ) closed down 6.30%.
On the news front, after the international gold price rose sharply to US$2,449.88 yesterday, there was a correction today. By the time of press release, London gold had once fallen 0.82% in intraday trading.
Looking to the market outlook, Hua 'an Futures believes that the de-dollarization process continues, global central banks increase their holdings of gold reserves, and the medium-and long-term bullish logic remains unchanged.
![sizzlinghotfreegame| [Interpretation of Tuition] Gold stocks suffered heavy losses! Haotong Technology closed down 6.30%, international gold prices corrected back](https://www.ntlyxf.com/zb_users/upload/water/2024-05-21/664c7b5823eca.jpeg "sizzlinghotfreegame| [Interpretation of Tuition] Gold stocks suffered heavy losses! Haotong Technology closed down 6.30%, international gold prices corrected back")
Everbright Securities (Rights Protection) research reported that the recent rapid rise in gold prices is mainly due to the loosening of the Federal Reserve's liquidity expectations and the downward trend in U.S. bond interest rates, pushing up investment demand. In the short term, wavering expectations of interest rate cuts may bring high fluctuations in gold prices. However, looking at trends, the U.S. economy is cooling down, the U.S. bond supply is falling, and the interest rate cut cycle is moving back but is still expected to start, indicating that U.S. bond interest rates have a strong downward trend, opening up room for gold prices to rise. In addition, in the context of anti-globalization, geopolitical conflicts occur frequently, the U.S. dollar credit system swings, and combined with rising demand for hedging, pushing the central bank to continue to purchase gold, which will become the support for gold prices in the medium and long-term dimensions.
Haotong Technology's main business is the research and development, production, sales and service of precious metal recycling and related products. The main products are platinum, silver, palladium and other precious metals and their series of deep-processed products, and provide customers with precious metal recycling services.
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