HK Stock Market Move | Gold stocks fell today, with Chifeng Jilong Gold Mining (06693) and LINGBAO GOLD (03330) both dropping more than 5%.

Gold stocks fell across the board today. As of the time of publication, Chifeng Jilong Gold Mining (06693) fell by 5.02% to HK$31.02, LINGBAO GOLD (03330) fell by 5.06% to HK$17.26, CHINAGOLDINTL (02099) fell by 4.42% to HK$131.9, and TONGGUAN GOLD (00340) fell by 2.62% to HK$2.23. On the news front, on September 15, spot gold briefly fell below $3630 per ounce. According to CCTV news, on September 14, local time, U.S. President Trump told reporters that he expects the Federal Reserve to announce a "significant rate cut" at this week's meeting. Currently, the market is focused on the upcoming FOMC meeting on Thursday. Tongguan Gold Futures pointed out that the main factors boosting gold prices continue to be weak U.S. economic data and rising rate cut expectations, and central bank gold purchases provide solid support for the medium-to-long term trend of gold prices. It is expected that until the Federal Reserve's rate cut on September 18, gold and silver prices will remain at high levels, with caution against short-term pullbacks after the rate cut meets expectations and profit-taking occurs.