HK Stock Market Move | Gold stocks under broad pressure; gold prices fluctuate repeatedly at low levels; market focuses on this week's U.S. CPI data.

Gold stocks under broad pressure. As of press time, TONGGUAN GOLD (00340) fell 3.64% to HK$2.515; Chifeng Jilong Gold Mining (06693) dropped 3.43% to HK$34.9; Shandong Gold Mining (01787) declined 2.46% to HK$19.07; CHINAGOLDINTL (02099) slipped 2.11% to HK$213.6. On the news front, although U.S. Treasury yields have pulled back from their highs, they remain in a range not seen in over two decades, with gold prices fluctuating repeatedly at low levels. The market is currently closely watching the U.S. CPI data scheduled for release on October 14. Guolian Futures believes that precious metals will struggle to restart a trend-based rally until oil prices, 10-year U.S. Treasury yields, and the dollar index show a clear turning point especially before Treasury yields fall below 5%. Guolian Futures stated that going forward, key focus should be placed on the September CPI inflation data and the evolution of Middle East geopolitics. If inflation stickiness exceeds expectations and rate hike expectations for October or even the remainder of the year are reignited, precious metal valuations will continue to be suppressed; if inflation continues to decline alongside weakening economic signals (with attention on the impact of high financing costs on economic growth), precious metals may see a phased recovery window.