HK Stock Market Move | All gold stocks rose, LINGBAO GOLD (03330) surged over 7%, Trump once again supported the rebound of precious metals.

All gold stocks have risen, as of the time of publication, LINGBAO GOLD (03330) rose by 7.31%, closing at 14.68 Hong Kong dollars; Chifeng Jilong Gold Mining (06693) rose by 5.36%, closing at 26.36 Hong Kong dollars; CHINAGOLDINTL (02099) rose by 4.99%, closing at 145.1 Hong Kong dollars; ZHAOJIN MINING (01818) rose by 4%, closing at 19.76 Hong Kong dollars; Zijin Mining Group (02899) rose by 4.74%, closing at 30.48 Hong Kong dollars. On the news front, the situation in the Middle East has seen a dramatic reversal. Trump had previously announced on social media that he would launch a "very fierce" attack on Iran, but about five hours later, he changed course and said that the plan to strike Iran had been cancelled and an agreement was in the final stages of being drafted, with a possible signing in Europe over the weekend. As a result, the spot price of gold briefly returned to $4200. It is worth noting that the European Central Bank raised interest rates by 25 basis points on the 11th, the first rate hike in nearly three years, signaling continued global monetary policy tightening. In addition, data released by the US Department of Labor on the 11th showed that the US Producer Price Index (PPI) rose by 1.1% month-on-month in May, exceeding market expectations; on a year-on-year basis, it rose by 6.5%, marking the largest increase since November 2022.