HK Stock Market Move | International gold prices are oscillating at high levels, Chifeng Jilong Gold Mining (06693) fell over 7%, and CHINAGOLDINTL (02099) fell over 6%.

Gold stocks continued to decline in the afternoon, as of the time of writing, Chifeng Jilong Gold Mining (06693) fell by 7.64% to HK$32.88; CHINAGOLDINTL (02099) fell by 6.6% to HK$134.5; ZIJIN MINING (02899) fell by 5.67% to HK$32.3; Shandong Gold Mining (01787) fell by 4.01% to HK$40.2. On the news front, international gold prices plummeted in the afternoon, with spot gold briefly falling below $1,620 per ounce and rebounding slightly. Earlier, it had surged past the $1,670 mark. CITIC Futures pointed out that trade tensions and expectations of easing have boosted gold prices, with expectations of a rate cut by the Federal Reserve, a weaker U.S. dollar, and the U.S. government shutdown all providing support. The government shutdown weakens the availability of economic data, leading the market to continue to chase higher prices in a "no data is good" sentiment. If a short-term technical overbought condition leads to a correction, $1,400 is the key support level, and an increase in price volatility may trigger profit-taking in the short term.