黄金股普遍低开 避险情绪缓和压制贵金属 金银价格显著回调

Core Viewpoint - The gold stocks experienced a significant decline following a sharp drop in gold prices, influenced by recent developments in US-China trade relations and market sentiment towards gold investments [1] Group 1: Market Performance - As of the report, major gold stocks opened lower, with China Gold International (02099) down 3.31% to HKD 125.7, Tongguan Gold (00340) down 2.92% to HKD 2.66, Shandong Gold (01787) down 1.73% to HKD 33, China Silver Group (00815) down 1.56% to HKD 0.63, and Chifeng Jilong Gold Mining (06693) down 1.43% to HKD 28.96 [1] - On October 27, spot gold prices fell sharply by 3%, briefly dropping below the USD 3900 mark [1] Group 2: Influencing Factors - The decline in gold prices is attributed to the recent agreement between the US and China in Kuala Lumpur, which resulted in a substantial easing of trade tensions, leading to a decrease in safe-haven demand for gold [1] - According to a report from Shenwan Hongyuan Securities, gold is no longer considered a wise investment in the short term due to the crowded positioning in the market, as indicated by a Bank of America survey showing "long gold" as a popular trade [1] Group 3: Investment Outlook - High leverage in gold ETFs has led to a rapid price decline from historical highs, with current volatility significantly eroding the risk-reward ratio for gold investments [1] - Despite the short-term outlook, the institution suggests that gold still holds long-term investment value [1]