The Zhitong Finance App learned that gold stocks had the highest decline. As of press release, Lingbao Gold (03330) fell 7.36% to HK$22.9; Chifeng Gold (06693) fell 5.84% to HK$40.92; Shandong Gold (01787) fell 5.08% to HK$25.42; Zijin Mining (02899) fell 3.85% to HK$36.96.

According to the news, spot gold surged higher this morning. After approaching 4,700 US dollars/ounce in the intraday period, it dived and now fell below 4,630 US dollars/ounce. There was news on Monday that the US Treasury Department is considering using close to 1 trillion US dollars of Treasury General Account (TGA) funds to fund the recently expanded US debt repurchase program. The news once drove 10-year and 30-year US Treasury yields back down.

It is important to note that US Treasury Secretary Bessent held a press conference on the afternoon of the 24th to announce that the US will launch a new round of sanctions against Iran's “economic isolation” on the same day to further increase pressure on Iran. Gelin Dahua Futures believes that gold and silver continue to trend upward in the short term, but we need to pay attention to the risk of retracting back into the tight trading range in the early period after continuous short-term increases.

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