HK Stock Market Move | Gold stocks continue recent downturn Shandong Gold Mining (01787) falls nearly 4% Market focusing on this week's Federal Reserve interest rate meeting results

Gold stocks continued their recent decline. As of the time of writing, Shandong Gold Mining (01787) fell by 3.81% to 12.62 Hong Kong dollars; LINGBAO GOLD (03330) fell by 1.1% to 2.69 Hong Kong dollars; CHINAGOLDINTL (02099) fell by 1.06% to 37.2 Hong Kong dollars; Zijin Mining Group (02899) fell by 0.96% to 14.4 Hong Kong dollars. In terms of news, the Federal Reserve is set to hold its final interest rate meeting of the year on December 17-18. China Citic Futures pointed out that although Trump's trade policies have weakened recently, the direction of Trump's policies is unlikely to reverse under the highly pro-America First cabinet members pre-Trump inauguration. This could continue to put pressure on the trend of precious metals. In addition, while US CPI and PCE data for November saw a moderate rise in line with expectations, the Producer Price Index (PPI) data released last week showed a higher than expected increase. With recent statements from Federal Reserve officials turning more conservative, the result of the December interest rate meeting may lean towards a hawkish rate cut. In the short term, precious metal prices are expected to fluctuate, and it is important to monitor the outcome of the Federal Reserve meeting on Thursday for any bearish impacts on precious metals resulting from potential hawkish signals.