HK Stock Market Move | Gold stocks collectively decline; Chifeng Jilong Gold Mining (06693) plunges over 10% after earnings; spot gold briefly falls below $3,980/oz.
Gold stocks collectively decline. As of press time, Chifeng Jilong Gold Mining (06693) fell 10.11% to HK$28.1; Lingbao Gold (03330) fell 7.88% to HK$15.43.
Gold stocks collectively decline. As of press time, Chifeng Jilong Gold Mining (06693) fell 10.11% to HK$28.1; LINGBAO GOLD (03330) fell 7.88% to HK$15.43; Zijin Mining Group (02899) fell 6.45 to HK$27.56; Shandong Gold Mining (01787) fell 6.02% to HK$16.4.
On the news front, on the morning of October 26, spot gold briefly fell below $3,980/oz, hitting a low of $3,978.12. The continued rise in energy prices, renewed inflation concerns, and changes in expectations for Federal Reserve policy together constitute the main backdrop for the pressure on gold this round. The market is focused on the Federal Reserve monetary policy meeting to be held from October 27 to 28.
It is worth noting that Chifeng Jilong Gold Mining's 2026 third-quarter report shows that in the first three quarters the company achieved operating revenue of 10.09 billion yuan, up 16.7% year on year, and net profit attributable to shareholders of 2.29 billion yuan, up 11.1% year on year; looking at the third quarter alone, the company achieved operating revenue of 3.07 billion yuan, down 8.9% year on year and down 11.4% quarter on quarter, and net profit attributable to shareholders of 553 million yuan, down 41.8% year on year and down 25.7% quarter on quarter.
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