On September 18, ZIJIN GOLD INTL rose 3.42% in regular trading, trading at 160.0 HKD/share, with turnover of HKD 365 million. The stock extended a recovery following a volatile week shaped by the Fed's rate decision and a surprise US Treasury intervention.

The Fed hiked rates by 25 basis points to 3.75%-4.00% on September 17, its first hike since July 2023. Chair Waller's hawkish tone and a dot plot signaling at least one more hike initially sent spot gold tumbling to around $4,242/oz. However, the US Treasury then announced it would at least double the size of its liquidity-support buyback operations for long-dated bonds, triggering gold's largest single-day rally in six months, with prices surging over 4% to approximately $4,523/oz before stabilizing near $4,500. Analysts note the market is now pricing in a \"sell the news\" scenario, with the worst of the rate-hike shock potentially absorbed. An investment bank raised its target price for ZIJIN GOLD INTL to 178 HKD. China's central bank continued gold accumulation for a 22nd consecutive month, reinforcing structural demand support.

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