Market Insight | Gold stocks continue to rise as the Fed cuts interest rates and escalating tensions in the Middle East drive international gold prices to new highs

Gold stocks continue to rise. As of the time of publication, Zhaojin Mining rose by 4.49% to HKD 13.96, Lingbao Gold rose by 3.14% to HKD 3.28, Shandong Gold rose by 2.19% to HKD 16.8, and China Gold International rose by 1.34% to HKD 34. This is influenced by the further interest rate cuts in the United States and escalating tensions in the Middle East. International gold prices hit a new high, with London gold briefly surpassing $2620 per ounce. Last week, the Federal Reserve cut interest rates by 50 basis points, and the dot plot indicates that the Fed will cut rates by another 50 basis points this year and by 100 basis points next year. According to reports, Israeli President Herzog stated in an interview on September 22 that the current situation between Israel and Lebanon is "very dangerous and could escalate sharply"