On July 2, Zijin Mining rose 3.21% in regular trading, trading at 28.4 HKD/share, with turnover of 766 million HKD. The gold sector rallied broadly, with China Gold International up 8.82%, Lingbao Gold up 7.89%, Zijin Gold International up 6.16%, and Shandong Gold up 5.39%.

The rebound follows a steep correction in the gold sector. Zijin Mining saw nearly 100 billion yuan in market cap wiped out over three trading days in late June, while JPMorgan's short position on its H shares surged to 6.58% as of June 24. Spot gold had previously fallen below the 4,000 USD psychological level, declining approximately 12.4% in June amid elevated US rate hike expectations and a stronger dollar.

However, structural support remains intact. China's central bank extended its gold reserve purchases to 19 consecutive months, adding 320,000 ounces in May to reach 74.96 million ounces. Multiple institutions including Goldman Sachs maintained year-end gold targets well above current levels, citing emerging market central bank buying and fiscal concerns. With short positions heavily crowded, the sector is experiencing a technical recovery from oversold conditions.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)