HK Stock Market Move | Gold stocks continue to rebound, expectations of a December interest rate cut by the Federal Reserve fluctuate, and precious metals may continue to trade in a range-bound pattern.

Golden stocks continued to rebound. As of the time of writing, Chifeng Jilong Gold Mining (06693) rose by 5.29% to 29.48 Hong Kong dollars; ZHAOJIN MINING (01818) rose by 3.89% to 29.88 Hong Kong dollars; Zijin Mining Group (02899) rose by 3.03% to 31.3 Hong Kong dollars; Shandong Gold Mining (01787) rose by 1.6% to 34.28 Hong Kong dollars. On the news front, Mary Daly, president of the San Francisco Federal Reserve, recently stated that she supports the Fed lowering interest rates at the next meeting. Market participants believe that in the short term, with several heavyweight Fed officials releasing dovish signals one after another, the market's expectation of a 25 basis point rate cut in December is reigniting. This will provide important support for gold and silver prices, and precious metals may continue to trade in a choppy range. CITIC SEC released a research report stating that the September US non-farm payroll data was mixed, with uncertainties remaining regarding whether the Fed will cut rates in December. Although the number of non-farm payroll employees in the US increased by 119,000 in September, exceeding the expected 51,000, it is important to note that the total for August and July was revised down by a total of 33,000, and the unemployment rate and the number of permanent unemployed individuals have also increased. With permanent vacancies in the October non-farm data, the uncertainty remains regarding whether the Fed will cut rates at the December interest rate meeting. It is expected that the US job market will continue to face pressure, and the Fed still has room for rate cuts next year.