The Zhitong Finance App learned that gold stocks opened lower across the board this morning. As of press release, Lingbao Gold (03330) fell 4.01% to HK$16.75; Shandong Gold (01787) fell 3.92% to HK$18.12; Zijin Gold International (02259) fell 3.68% to HK$136; Chifeng Gold (06693) fell 3.36% to HK$32.24; China Gold International (02099) fell 2.60% to HK$176.0.

According to the news, higher than expected US inflation data boosted the dollar and US bond yields. Spot gold once fell more than 3% on Tuesday, then fell below 4,030 US dollars this morning. The US Bureau of Labor Statistics released a report on Tuesday showing that the US core CPI rose 0.3% month-on-month in October, higher than market expectations of 0.2%. After the inflation data was released, traders still fully priced the Federal Reserve's interest rate hike in December, while increasing their bets on interest rate hikes by 50 basis points.

Notably, several Federal Reserve officials emphasized the need for further policy tightening. Before the data was released, Waller said that if core inflation continues to reach around 0.3% or higher, an interest rate hike of 50 basis points in December should be considered; Logan advocates implementing at least two more 25-basis point interest rate hikes, and the winter season may act faster than in the fall. Bauman also said that inflationary pressure continues, the labor market is stabilizing, and efforts are still needed to return prices to 2%.

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