Gold stocks in Hong Kong experienced a broad decline.
At the time of writing, shares of Zhufeng Gold (01815) were down 4.82% at HK$0.79.
LINGBAO GOLD (03330)
Lingbao Gold's stock price fell 4.66% to HK$15.54.
Shares of Chifeng Gold (06693) dropped 3.05% to HK$30.54.
Tongguan Gold (00340) declined 2.34% to HK$2.09.
The weakness in the sector coincided with a continued pullback in international gold prices.
Spot gold was trading below $4,470 per ounce, down 0.51% for the day.
Market sentiment was impacted by renewed military exchanges between the US and Iran, which escalated tensions in the Middle East.
Furthermore, data released by the US Bureau of Labor Statistics on Tuesday showed job openings in April surged to 7.62 million, reaching the highest level in nearly two years and significantly exceeding economist forecasts of 6.87 million.
This pushed the US macroeconomic surprise index to its highest point since November 2023, reinforcing market speculation about a potential interest rate hike by the Federal Reserve within 2026.
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Hong Kong Gold Stocks Decline as Spot Gold Falls Below $4,470 Amid Lingering Fed Hike Concerns
Stock News06-03 13:53
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