SHANGHAI :
Chinese Gold Shares Surge as Precious Metal Price Hits All-Time High
Dou Shicong
DATE:  Jul 27 2020
/ SOURCE:  Yicai
Chinese Gold Shares Surge as Precious Metal Price Hits All-Time High Chinese Gold Shares Surge as Precious Metal Price Hits All-Time High

(Yicai Global) July 27 -- China's mainland stock markets walked back some of their earlier gains in the morning session while gold-related shares continued their strong performance after a US gold price benchmark hit a historic high.

The Shanghai Composite Index climbed 0.09 percent to 3,199.67 by the lunch break. The Shenzhen Component Index was at 12,964.63, up 0.22 percent. The ChiNext Price Index, which tracks growth enterprises listed in Shenzhen, rose 0.16 percent to 2,632.14.

The spot gold price hit USD1,944.40 per ounce at 11.12 a.m. while the exchange's silver price reached the highest in nearly seven years at USD24.36 per ounce.

Several Chinese gold firms and metal miners jumped by the daily limit, including Western Gold [SHA:601069], Yuguang Gold & Lead [SHA:600531], and Baiyin Nonferrous Group [SHA:601212].

Editor: Emmi Laine

 

 

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Keywords:   Shanghai Composite Index,Shenzhen Component Index,ChiNext Price Index