The Zhitong Finance App learned that gold stocks rebounded collectively. As of press release, Lingbao Gold (03330) rose 9.4% to HK$18.5; Zhaojin Mining (01818) rose 6.78% to HK$18.59; Shandong Gold (01787) rose 5.44% to HK$18.99; and China Gold International (02099) rose 3.96% to HK$215.4.

According to the news, the US PPI data and consumption data released yesterday are still hot, driving the market to revise bets on the Fed's interest rate hike expectations in October, but technology stock adjustments triggered safe-haven funds flowing into US bonds. At the same time, the US Treasury officials were relatively cautious about immediate interest rate hikes. US bond yields and the US dollar index fell from high levels. On Thursday, long-term bond yields also showed a double-digit single-day decline, easing the pressure on gold price adjustments in the previous period.

CITIC Futures believes that the growth rate of retail sales and core retail sales both slowed markedly in September. Combined with the weakening of previous employment data, it is not enough to confirm that monetary policy will continue to be significantly tightened immediately. Central bank purchases, ETF allocation requirements, and US fiscal credit risk still provide long-term support for gold. The short-term focus will be on Newash's speech at the International Monetary Fund and World Bank annual meetings in Bangkok during the week.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.