SMM2 March 23: the gold plate continued to rise today after yesterday's rally, leading the rise in the plate. Among them, Yuancheng gold opened and sealed the board, and CICC gold was once close to the limit. Chifeng gold rose more than 7 per cent and Hunan gold rose more than 3 per cent.
Yuancheng Gold said in the announcement of abnormal stock price fluctuations that the cumulative deviation of the stock closing price for three consecutive trading days reached 20%, which belongs to abnormal fluctuations in stock trading according to the relevant provisions of the rules governing the listing of stocks on the Shanghai Stock Exchange. After self-examination by the company and verification with the actual controller of the controlling shareholder, there are no major matters that should be disclosed but not disclosed.
Prior to the Yuancheng Gold performance forecast, the company expects to achieve a net profit of-15.5 million yuan to-14.5 million yuan attributed to shareholders of listed companies in 2020.
Dongxing Securities pointed out that gold prices are periodically subject to risk sentiment and U. S. bond yields continue to rise and slightly weak. Although nominal interest rates on US 10 bonds have rebounded by 36 basis points to 1.29 per cent since the end of 2020, there is still a return demand for dollar gold liquidity premiums, given that there has been no substantial change in real interest rates and the size of the carry trade. In addition, given the relative pricing of dollar gold from the perspective of exchange rate parity and the relative pricing of dollar gold from the perspective of inflation parity, the price of dollar gold in 2021 is expected to hit $2300 an ounce, a premium of nearly 30 per cent to the current premium.
Senior market strategists at CMC Markets pointed out that the performance of bond yields will continue to depress gold, but expectations for gold remain positive. Gold prices will remain in the $1700-$1900 / oz region, and it will be difficult for gold to return to the $2000 / oz mark as the global economy recovers.
