The Zhitong Finance App learned that gold stocks fell collectively. As of press release, Zijin Gold International (02259) fell 4.65% to HK$127; Chifeng Gold (06693) fell 3.55% to HK$31.54; and Shandong Gold (01787) fell 3.2% to HK$17.83.

According to the news, the current tense situation in the Middle East is heating up, and Brent crude oil is at a high of 110 US dollars. According to CCTV news reports, according to US officials and other people familiar with the matter, the US and Israeli military have made specific plans to launch another military attack on Iran after the US midterm elections. Furthermore, the US State Department confirmed that it has ordered the evacuation of US government employees and their families from non-emergency positions in Saudi Arabia.

CITIC Futures believes that in the short term, gold continues to fluctuate, and the US dollar and US bond yields have declined slightly to ease the pressure on gold adjustments, but the risk of energy inflation and market bets on further interest rate hikes between the US, Europe, and Japan have not clearly subsided, and the room for gold prices to rebound is still limited. Long-term US fiscal credit risk, central bank purchases, and gold allocation requirements still support gold.

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