Spot gold hit as high as $1889.94 an ounce a few days ago, the highest level since Jan. 8.
Analysts at J.P.Morgan Chase & Co believe that while the cryptocurrency has plummeted, gold has risen more than 6 per cent since the beginning of May. After the recent collapse in cryptocurrency prices across the market, institutional investors are likely to replace Bitcoin with gold. Citic Construction Investment Analysis pointed out that in the coming quarter, gold will usher in the most favorable combination of "downward US bond yields + rapid upward US inflation". Standing at the moment, it is expected that the upward space for gold has been opened.
According to the theme database of the Financial Associated Press, among the relevant listed companies:
Chifeng Gold's gold mining subsidiaries Jilong Mining, Huatai Mining and Wulong Mining have a total of 8 mining rights and 16 exploration rights, holding about 52.43 tons of gold resources.
Western Gold is currently the largest modern gold mining and metallurgical enterprise in Northwest China, with major gold production mines such as Hatu Gold Mine, Ashi Gold Mine of Yili Company and Hami Gold Mine.
