Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Hong Kong
  4. Hong Kong Stock Exchange
  5. China Evergrande Group
  6. News
  7. Summary
    3333   KYG2119W1069

CHINA EVERGRANDE GROUP

(3333)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

China Evergrande : Gold prices tepid as traders cautious amid Evergrande, pre-Fed jitters

09/21/2021 | 12:12am EDT

* Spot gold may retest support at $1,744/oz - technicals

* Gold skewed to downside long-term as Fed normalizes policy -analyst

Sept 21 (Reuters) - Gold prices were subdued on Tuesday as cautious investors braced for U.S. Federal Reserve's guidance on tapering its assets and interest rate hikes, while risk-off sentiment stoked by China Evergrande's debt crisis limited losses in the safe-haven metal.

Bullion is considered as a hedge against inflation and currency debasement likely to result from the widespread stimulus. A hawkish move by the Fed would diminish gold's appeal, while an eventual interest rate hike would also raise the opportunity cost of holding the non-interest bearing asset.

Spot gold inched 0.2% lower to $1,760.80 per ounce by 0645 GMT, while U.S. gold futures were flat at $1,762.10.

"In the longer term, they're (gold prices) still skewed to the downside because we're going to continue to see the Fed wanting to push towards normalizing monetary policy, which typically is not a good environment for gold," IG Market analyst Kyle Rodda said.

The Fed is likely to provide an outlook on how soon and how often they think the economy will need interest rate rises over the next three years at their policy meeting on Wednesday.

Gold prices recovered on Monday from a more than one-month low of $1,741.86 as concerns over the fallout from property developer Evergrande's solvency issues spooked stock markets worldwide and drove investors to safe-haven assets.

"Depending on how the Evergrande situation plays out with markets, gold could continue finding safe-haven buyers, or buying interest could evaporate ... particularly if the China government soothes nerves when it returns to work tomorrow," Jeffrey Halley, a senior market analyst for Asia Pacific at OANDA, said in a note.

On the technicals front, spot gold may retest a support at $1,744, a break below could cause a fall into the $1,724-$1,736 range, according to Reuters technical analyst Wang Tao.

Silver edged 0.2% higher to $22.28 per ounce.

Palladium climbed 1.2% to $1,908.71, while platinum gained 0.8% to $918.00.

(Reporting by Eileen Soreng in Bengaluru; Editing by Sherry Jacob-Phillips and Rashmi Aich)


© Reuters 2021
All news about CHINA EVERGRANDE GROUP
04:47aChina's debt-ridden Evergrande resumes work on more than 10 property projects
RE
10/22Dow posts record closing high, stocks gain for 3rd week; dollar dips
RE
10/22S.Africa's rand set for weekly loss but stocks buck trend
RE
10/22China's troubled property behemoth averts default, signals business shift
RE
10/22FANTASIA : Analysis-Investors denied their Ever-grande finale...for now
RE
10/22WALL STREET STOCK EXCHANGE : Nasdaq takes a hit from Intel and Snap
10/22CHINA EVERGRANDE NEW ENERGY VEHICLE : plans to shift main business to new energy vehicles ..
RE
10/22Powell Imposes Personal-Investing Restrictions on Fed Officials; Turkey's Central Bank ..
DJ
10/22FANTASIA : Evergrande averting default to do little to revive China property bond sales
RE
10/22CHINA EVERGRANDE : Factbox-China's indebted property market and the Evergrande crisis
RE
More news
Analyst Recommendations on CHINA EVERGRANDE GROUP
More recommendations
Financials
Sales 2021 547 B 70 415 M 70 415 M
Net income 2021 2 419 M 311 M 311 M
Net Debt 2021 354 B 45 488 M 45 488 M
P/E ratio 2021 14,7x
Yield 2021 1,41%
Capitalization 35 511 M 4 568 M 4 569 M
EV / Sales 2021 0,71x
EV / Sales 2022 0,47x
Nbr of Employees 163 119
Free-Float 18,6%
Chart CHINA EVERGRANDE GROUP
Duration : Period :
China Evergrande Group Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends CHINA EVERGRANDE GROUP
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 12
Last Close Price 2,69 HKD
Average target price 11,13 HKD
Spread / Average Target 314%
EPS Revisions
Managers and Directors
Hai Jun Xia Vice Chairman & Chief Executive Officer
Shou Ming Shi President
Da Rong Pan Chief Financial Officer & Executive Director
Ka Yan Hui Chairman
Dong Feng Chen Head-Information
Sector and Competitors
1st jan.Capi. (M$)
CHINA EVERGRANDE GROUP-81.95%4 568
CHINA VANKE CO., LTD.-25.68%37 855
VONOVIA SE-9.54%36 174
DEUTSCHE WOHNEN SE20.26%21 013
VINGROUP JOINT STOCK COMPANY-4.55%14 904
VINHOMES JOINT STOCK COMPANY13.30%14 897