Changes in Hong Kong stocks | Gold stocks fell across the board, oil prices surged, and US bond yields rose to a high point during the year. The market expects the Federal Reserve to raise interest rates as soon as next week

The Zhitong Finance App learned that gold stocks were lower across the board. As of press release, China Baiyin Group (00815) fell 5.36% to HK$0.265; China Gold International (02099) fell 4.68% to HK$167; Zijin Gold International (02259) fell 3.85% to HK$114.9; Lingbao Gold (03330) fell 4.01% to HK$18.91; Zijin Mining (02899) fell 3.76% to HK$32.26.

According to the news, US Treasury yields have risen to the highest level in the year due to the threat of the escalation of the US-Iran conflict in the Middle East, and the market expects the Federal Reserve to raise interest rates as soon as next week. The 10-year Treasury yield rose to around 4.7%, a record high since January last year; in addition, the yield on 30-year US Treasury bonds also rose overnight to 5.19%, which is only one step away from the highest level since 2007. According to reports, Wall Street traders currently expect that the probability that the Federal Reserve will raise interest rates by 25 basis points at the July 29 meeting is about 30%, and the probability of keeping interest rates unchanged is about 70%.

CICC Wealth Futures said that with the escalation of the US-Iran conflict, especially when Israel and the Houthis join, the probability of an escalation of the situation has further increased, and oil prices have risen sharply. This has dealt a heavy blow to gold, which has just begun to rebound, and gold has fallen sharply. If oil prices continue to rise sharply in the short term, the price of gold will undoubtedly continue to be under pressure. Currently, the biggest risk in the gold market is that oil prices get out of control. Guojin Securities believes that the recent rebound in gold and silver is the result of the collapse of technological momentum and the outward rotation of capital, rather than confirmation of a new round of trending markets.