HK Stock Market Move | Gold stocks are generally declining, with Chifeng Jilong Gold Mining (06693) falling more than 4%. Gold prices have dropped below $3300.

Gold stocks are generally down, as of the time of writing, Chifeng Jilong Gold Mining (06693) fell 4.14% to HKD 27.8; Shandong Gold Mining (01787) fell 2.78% to HKD 24.45; TONGGUAN GOLD (00340) fell 1.88% to HKD 1.57; and CHINAGOLDINTL (02099) fell 1.35% to HKD 58.5. On the news front, international gold prices have fallen from their highs, with spot gold dropping below $3300 per ounce. Maico Futures pointed out that the prices of precious metals have been slightly affected by the recent increase in risk aversion sentiment, with a slight rebound in prices. In the absence of systemic risk conditions, an increase in risk aversion sentiment is beneficial for the prices of precious metals. However, a potential risk factor is if U.S. bond yields continue to rise sharply, leading to a downturn in stocks, bonds, and currencies, causing liquidity risks that could suppress the prices of precious metals. Nanhua Futures believes that short-term pullbacks should be viewed as opportunities for long-term buying, but overall prices may remain volatile in the near term.