HK Stock Market Move | Gold stocks generally declined as the U.S. Treasury's market rescue triggered a new round of sell-offs. Geopolitical factors pushed up oil prices, which intensified inflation concerns.

Gold stocks generally fell today. As of the time of writing, LINGBAO GOLD (03330) decreased by 3.06%, quoted at HKD 23.42; Shandong Gold Mining (01787) dropped by 3.18%, quoted at HKD 24.94; Chifeng Jilong Gold Mining (06693) fell by 1.31%, quoted at HKD 39.20. In terms of news, on Wednesday, the U.S. Treasury announced that it would raise the maximum single long-term Treasury bond repurchase limit to $6 billion, tripling last month's set scale, but this measure has still not been able to curb the selling momentum in the bond market. The yield on 10-year U.S. Treasury bonds hit a three-year high during trading. Geopolitically, the mutual attacks between the U.S. and Iran have escalated, with Brent crude oil rising above $100 a barrel for the first time since the end of July, further intensifying inflation concerns. CITIC Futures believes that gold is expected to maintain high-level fluctuations in the short term, and the U.S. inflation data this week will be an important catalyst for direction selection in the next phase. If core inflation continues to ease, expectations for Federal Reserve interest rate hikes are likely to cool, and with a decline in pressure on the dollar and real interest rates, there will be conditions for gold to break upwards again; however, if inflation, especially core inflation, exceeds expectations, the rise in oil prices and tightening policy expectations may resonate, and gold will still face further adjustment pressure.