The Zhitong Finance App learned that gold stocks were weakening collectively. As of press release, Lingbao Gold (03330) fell 6.33% to HK$15.23; China Gold International (02099) fell 3.99% to HK$170.9; and Zijin Gold International (02259) fell 2.75% to HK$120.3.

According to the news, spot gold fell below the 4,000 US dollar mark today. As of press release, it was reported at 3984.13 US dollars/ounce, a drop of about 0.9% during the day. Huatai Futures believes that the current market risk sentiment is growing. The US stock technology equity is once again showing a sharp decline compounded by a rise in geographical risk. The market trend is clearly suppressed, and demand for gold investment may weaken slightly. Therefore, it is expected that the price of gold may be dominated by a volatile pattern in the near future.

It is worth noting that the US core PCE price index rose 3.1% year on year and 0.3% month on month in September, all in line with market expectations. PCE is an inflation index that the Federal Reserve prioritizes. Among them, the core PCE is regarded by Federal Reserve officials as the core yardstick for judging medium- to long-term inflation trends.

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