HK Stock Market Move | Gold stocks continue to decline, while the probability of a rate cut by the Federal Reserve in December is decreasing. Institutions predict that the adjustment of precious metals will continue.

Gold stocks continue to decline. As of the time of publication, LINGBAO GOLD (03330) fell by 5.66% to HK$15.83; TONGGUAN GOLD (00340) fell by 4.3% to HK$2.67; CHI SILVER GP (00815) fell by 4.55% to HK$0.63; ZIJIN GOLD INTL (02259) fell by 4.16% to HK$133.7; CHINAGOLDINTL (02099) fell by 3.73% to HK$131.7. On the news front, gold prices continued to decline for the fourth consecutive day on Tuesday. On the evening of November 17, Federal Reserve's Jefferson said that the Federal Reserve should proceed cautiously in further easing. Federal Reserve Vice Chairman Philip Jefferson stated that the Federal Reserve should proceed cautiously when further cutting interest rates to avoid weakening its anti-inflation efforts. He believes that the risks facing the labor market are skewed to the downside, but also reiterated that as interest rates approach neutral levels, policymakers need to proceed cautiously in their actions. It is understood that the market's expectation for a 25 basis point rate cut by the Federal Reserve in December has dropped from 70% to 40%. Zhongxin Futures believes that as the Federal Reserve's tone continues to shift to a more hawkish stance, the probability of a rate cut in December has further decreased. At the same time, with the reversal of silver leasing rates and the easing of spot market tensions, the adjustment pattern for gold and silver remains synchronized. In the short term, the market is expected to enter a phase of price regression after the anticipation rush, with precious metals undergoing a wave of adjustments. Attention is focused on the disclosure of US GDP and non-farm payroll data this week.