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Bubble Finance learned that on May 21, the A-share gold concept suffered a heavy setback. Pengxin Resources (Rights Protection)(600490multilinevideopoker.SH) closed down 6.68%.

On the news front, after the international gold price rose sharply to US$2,449.88 yesterday, there was a correction today. By the time of press release, London gold had once fallen 0.82% in intraday trading.

Looking to the market outlook, Hua 'an Futures believes that the de-dollarization process continues, global central banks increase their holdings of gold reserves, and the medium-and long-term bullish logic remains unchanged.

Everbright Securities (Rights Protection) research reported that the recent rapid rise in gold prices is mainly due to the loosening of the Federal Reserve's liquidity expectations and the downward trend in U.S. bond interest rates, pushing up investment demand. In the short term, wavering expectations of interest rate cuts may bring high fluctuations in gold prices. However, looking at trends, the U.S. economy is cooling down, the U.S. bond supply is falling, and the interest rate cut cycle is moving back but is still expected to start, indicating that U.S. bond interest rates have a strong downward trend, opening up room for gold prices to rise. In addition, in the context of anti-globalization, geopolitical conflicts occur frequently, the U.S. dollar credit system swings, and combined with rising demand for hedging, pushing the central bank to continue to purchase gold, which will become the support for gold prices in the medium and long-term dimensions.

Pengxin Resources's main business is the mining, processing, smelting and sales of metal copper, gold and cobalt. In addition, the company's business scope also includes trade, finance and ecological restoration, that is, it uses advanced and efficient hydrometallurgical technology to convert copper ore into cathode copper products and then sell it for profit. The company's main product is self-produced cathode copper, which can be widely used in electrical, light industry, home appliances, machinery manufacturing, construction, defense industry and other fields.

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