HK Stock Market Move | Gold stocks fell again, Lingbao Gold (03330) dropped more than 3%, inflation concerns and expectations of interest rates continue to suppress.

Gold stocks fell again, as of the time of writing, CHINAGOLDINTL (02099) fell by 3.07% to HK$153.5; LINGBAO GOLD (03330) fell by 3.07% to HK$18.33; ZIJIN GOLD INTL (02259) fell by 2.87% to HK$145.7; Zijin Mining Group (02899) fell by 2.21% to HK$33.66; Chifeng Jilong Gold Mining (06693) fell by 1.17% to HK$35.12. On the news front, CITIC Futures pointed out that there is still a lack of substantial breakthrough in the negotiations for the navigation of the Strait of Hormuz, coupled with the tough stance of the United States towards Iran and security disturbances in the Middle East, the central energy prices are unlikely to significantly fall in the short term, and the inflation and interest rate - the US dollar chain is still the core logic suppressing the gold price. The institution believes that in the short term, gold is still under the dual constraints of inflation and interest rate suppression and weakening physical demand, and the price may maintain a weak oscillation pattern at high levels. The Federal Reserve meeting minutes, changes in energy prices, and progress in US-Iran negotiations are the core variables this week.