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<Research>BOCI Reiterates Overweight on CN Gold Sector
Recommend 4 Positive 11 Negative 4 |
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The nomination of Kevin Warsh by US President Donald Trump as the next Fed Chair triggered a massive sell-off in the precious metals market, sending gold prices tumbling by over 21% within two days from the historical peak of USD5,600 per ounce, according to a BOCI report. BOCI believes the investment thesis of gold as a true safe-haven asset and an alternative to USD assets is still valid. No matter who the new Fed Chair will be, the US is bound to cut rates in 2026. Reiterating an Overweight rating on China's gold industry, BOCI expects the average gold price forecast for 2026 to have upside potential from USD4,800 per ounce. SD GOLD (01787.HK) and ZHAOJIN MINING (01818.HK) remain the broker's top picks, with target prices of HKD52.06 and HKD44.78, respectively. Both have been rated as Buy. AAStocks Financial News |
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