Changes in Hong Kong stocks | Gold stocks are generally pressured by low gold prices, repeated fluctuations, and the market is concerned about this week's US CPI data

The Zhitong Finance App learned that gold stocks were generally under pressure. As of press release, Tongguan Gold (00340) fell 3.64% to HK$2.515; Chifeng Gold (06693) fell 3.43% to HK$34.9; Shandong Gold (01787) fell 2.46% to HK$19.07; and China Gold International (02099) fell 2.11% to HK$213.6.

According to the news, although US bond yields have fallen from a high level, they are still in the high zone for more than 20 years, and the low level of gold prices fluctuates repeatedly. Currently, the market is closely watching the US CPI data to be released on October 14. League of Nations Futures believes that it will be difficult for precious metals to restart the trending upward trend until oil prices, 10-year US bond yields, and the US dollar index show a clear inflection point, especially until US bond yields fall below 5%.

League of Nations Futures said that in the future, it is necessary to focus on tracking the September CPI inflation data and the geographical evolution of the Middle East. If inflation stickiness exceeds expectations, interest rate hikes are expected to reignite in October and even during the year, continuing to suppress precious metal valuations; if inflation continues to fall and economic signals weaken (focus on the impact of high financing costs on economic growth), precious metals may usher in a phased recovery window.