Changes in Hong Kong stocks | Gold stocks are falling across the board, and interest rates on US bonds are rising, suppressing precious metals valuations, and Federal Reserve officials are intensively releasing hawkish signals

The Zhitong Finance App learned that gold stocks were lower across the board. As of press release, Lingbao Gold (03330) fell 9.06% to HK$19.28; Shandong Gold (01787) fell 8.45% to HK$18.31; Tongguan Gold (00340) fell 5.87% to HK$2.405; and Chifeng Gold (06693) fell 4.26% to HK$34.16.

According to the news, rising US bond interest rates are putting pressure on precious metals valuations. Last Friday, the 30-year US Treasury yield hit 5.53% intraday, breaking the highest record since 2004. US bond yields continued to jump this morning. The 10-year and 30-year US bond yields rose above 5.20% and 5.50% respectively. It is worth noting that the current stalemate in the Strait of Hormuz has made expectations for interest rate hikes high. According to the latest news, US President Trump said in an interview that “it is expected that negotiations will continue with Iran this week.” However, the day before, Trump rejected Iran's plan to end the war.

Since the Federal Reserve recently raised interest rates for the first time in three years, many officials have called for further policy tightening. On Friday alone, three Federal Reserve officials sent hawkish signals warning of the risk of inflation. Cleveland Federal Reserve Chairman Beth Hammark said that she is concerned that continued high inflation may cause the American public to gradually regard high prices as the norm, and the Federal Reserve must not let this happen. Kansas City Federal Reserve Governor Jeffrey Schmid said that the inflation rate is still higher than the Fed's 2% target, and policymakers have yet to completely resolve the inflation problem.