The Zhitong Finance App learned that gold stocks had the highest decline. As of press release, Zijin Gold International (02259) fell 6.38% to HK$132.1; Chifeng Gold (06693) fell 5.53% to HK$32.1; Shandong Gold (01787) fell 4.29% to HK$18.07; Zijin Mining (02899) fell 3.32% to HK$27.98.
According to the news, after the US price data for October was released, the probability that the Federal Reserve will raise interest rates by 50 basis points next month has risen sharply. According to the Chicago Mercantile Exchange's Federal Reserve Watch Tool, traders expect the probability that the Fed will raise interest rates in December to be 100%, and the probability of raising interest rates by 50 basis points is 12.7%. Federal Reserve Governor Waller said that under such circumstances, the December interest rate meeting should consider raising interest rates by 50 basis points. The international gold price once again fell below the $4,000 mark.
CITIC Construction Investment pointed out that in 2026, domestic gold mines were disrupted by stricter safety regulations, discontinuation of production and self-inspection, and production fell short of expectations, suppressing sector performance and valuation. The current sector valuation has fallen back to a historically low range. Looking ahead to 2027, with the resumption of production of rectification mines and the commissioning of new technical improvement projects compounded last year's low base, domestic gold stock production is expected to recover, profit expectations improve, and sector valuations have room for repair.