Changes in Hong Kong stocks | Most gold stocks are under pressure, and the US non-agricultural explosion in August boosted interest rate hikes, and the market waits for CPI data to be implemented

The Zhitong Finance App learned that most gold stocks were under pressure. As of press release, Tongguan Gold (00340) fell 6.9% to HK$3.305; Shandong Gold (01787) fell 3.29% to HK$25.86; Chifeng Gold (06693) fell 1.66% to HK$41.5; Zijin Mining (02899) fell 1.09% to HK$36.2.

According to the news, on the evening of September 4, the US Department of Labor announced that the number of non-farm payrolls increased by 162,000 in August, about three times what the market expected. Strong employment showed that the US economy was still resilient. The market raised expectations of the Fed's interest rate hike again, and US bond yields rose. Meanwhile, the Middle East conflict has entered a new phase of escalation. The main battleground of confrontation between the two sides, which lasted several months, gradually moved to sea, and Brent crude oil reached another 97 US dollars.

Societe Generale Securities Research Report pointed out that in the short term, gold still faces valuation suppression in the US dollar and US bond yields, but global bond sales are still strong, and gold allocation funding is still strong. This week's CPI and PPI will directly determine the pricing for the September meeting: lower than expected inflation is expected to push gold to challenge more than 4,500 US dollars again, while strong inflation may further strengthen the September interest rate hike deal.