HK Stock Market Move | Gold stocks fell again, Middle East geopolitics continue to fluctuate, spot gold briefly fell below $4500 this morning.

Gold stocks fell again, as of press time, EVEREST GOLD (01815) fell 7.2% to HK$1.16; CHI SILVER GP (00815) fell 5.21% to HK$0.455; ZIJIN GOLD INTL (02259) fell 4.39% to HK$174.3; Shandong Gold Mining (01787) fell 4.26% to HK$30.98; Zijin Mining Group (02899) fell 3.14% to HK$34.5. On the news front, on March 26, spot gold briefly fell below $4500, but has since rebounded. The situation in the Middle East continues to be volatile. On March 26, the military conflict between the US, Israel, and Iran entered its twenty-seventh day. Iranian state media reported that Iran has rejected US peace plans, and all parties are still launching military offensives. There are also reports that Iranian military sources have stated that if an enemy tries to launch ground operations on Iranian islands or territory, or exert pressure on Iran through naval operations in the Persian Gulf and the Gulf of Oman, Iran will open a new front in the Strait of Hormuz. Huatai Futures believes that the main catalyst for the rebound in precious metal prices is the easing of liquidity concerns brought about by the easing of geopolitical tensions and the clear restoration of market risk preferences; however, geopolitical risks still exist, and the US does not seem to have the initiative to cease-fire at any time. If the US and Iran cannot reach an agreement on ceasefire conditions, the possibility of escalation of the conflict cannot be ruled out. It is not advisable to completely shift to trading after the conflict ends in the short term. Therefore, it is expected that the price of gold will mainly fluctuate in the near future.