HK Stock Market Move | Spot gold falls below $4700, Chifeng Jilong Gold Mining (06693) drops nearly 6%, LINGBAO GOLD (03330) falls over 4%.

Gold stocks lead the decline. As of the time of writing, Chifeng Jilong Gold Mining (06693) fell by 5.15% to HK$39.78; LINGBAO GOLD (03330) fell by 4.62% to HK$23.14; ZIJIN GOLD INTL (02259) fell by 4.07% to HK$162.8; Shandong Gold Mining (01787) fell by 3.21% to HK$30.16. On the news front, US President Trump said in an interview with a Fox News journalist on the 22nd that there is currently "no timetable" for the end of the conflict with Iran, and there is no need to rush. On the 23rd, spot gold prices plummeted, briefly falling below $4700. Huaxin Futures believes that geopolitical tensions bring risks of "stagnation" and "inflation", and expects the impact on the economy to be greater than the risk of inflation. With easing concerns about crude oil supply, it is expected that the Federal Reserve will continue to cut interest rates in the second half of the year, and gold still has long-term value for allocation.