Changes in Hong Kong stocks | Gold stocks continue to be pressured by expectations of interest rate hikes and energy inflation heating up again, and the rebound in the dollar and short-term yields suppresses the price of gold

The Zhitong Finance App learned that gold stocks continued to be under pressure. As of press release, Everest Gold (01815) fell 8.1% to HK$1.93; Shandong Gold (01787) fell 4.48% to HK$26; Chifeng Gold (06693) fell 2.71% to HK$40.24; and Lingbao Gold (03330) fell 1.62% to HK$21.88.

According to the news, after Federal Reserve Chairman Walsh reiterated that the 2% inflation target is unshakable, the market once again raised the probability of recent interest rate hikes, and the dollar and short-term yields rebounded. Combined with the escalation of the situation in the Middle East, oil prices rose. The yield on US 10-year Treasury bonds rose to 4.78%, the highest level since January 2025; the yield on US 30-year Treasury bonds rose to around 5.27%.

CITIC Futures believes that short-term gold will still be dominated by shock absorption, and expectations of interest rate hikes and a renewed rise in energy inflation will limit a rapid rebound. However, earlier Treasury Secretary bond repurchases have shown that US policy is beginning to pay more attention to long-term financing costs, and currency depreciation transactions have not disappeared due to the Federal Reserve turning hawk. The next focus will be on the combination of real interest rates and the US dollar.