Stock Track | ZIJIN GOLD INTL Plummets 5.09% in Trading as Gold Price Retreats from Highs Triggers Sector-Wide Selloff

Stock Track
Aug 13

ZIJIN GOLD INTL shares plummeted 5.09% during Thursday's trading session, as a sharp retreat in international gold prices triggered a broad selloff across the gold sector.

International gold prices had surged to a stage high of USD 4,435 before swiftly retreating and breaking below the USD 4,400 support level. Technical indicators showed the RSI in severely overbought territory, sparking concentrated short-term profit-taking and a technical correction that weighed heavily on gold-related stocks. The entire gold sector exhibited significant linkage effects amid the gold price pullback, with peers such as LINGBAO GOLD falling 5.64%, CHINAGOLDINTL down 5.08%, SD GOLD declining 3.82%, and ZHAOJIN MINING dropping 3.52%.

The synchronized decline across the sector underscores the sensitivity of gold miners to international gold price movements, as profit-taking pressure intensified following the metal's recent rally to record levels.

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