The Zhitong Finance App learned that most gold stocks have weakened. As of press release, Zijin Gold International (02259) fell 3.08% to HK$122.6; Lingbao Gold (03330) fell 2.73% to HK$15.66; Zijin Mining (02899) fell 2.29% to HK$27.3.

According to the news, the gold price fell below 3,860 US dollars on Thursday, a new low in more than a year due to rising US Treasury yields, the strengthening of the US dollar, and the intensive hawking of the market on Federal Reserve officials. The unstable geographical situation has heightened concerns about inflation. US President Trump said a few days ago that the US does not need to reach an agreement with Iran. Trump said those days are long over. The US already has hundreds of billions of dollars in Iran's capital and the Strait of Hormuz.

CITIC Futures pointed out that in the outlook, short-term gold remains volatile and under pressure, focusing on PPI, the Federal Reserve's statements and short-term interest rate trends this week. If price pressure continues to exceed expectations, discussions on larger interest rate hikes may further suppress the price of gold; if inflationary momentum eases, the US dollar and real interest rates fall, and ETF inflows continue, gold can only be expected to form a more stable recovery.

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.