According to Zhitong Finance APP, gold stocks fell across the board in the morning session. As of the time of publication, China Silver Group (00815) dropped 5.45% to HKD 0.26; Zijin Mining (02899) fell 4.02% to HKD 15.76; Lingbao Gold (03330) decreased 4.02% to HKD 3.1; and Shandong Gold (01787) declined 2.88% to HKD 14.44.
On the news front, impacted by a strong US dollar, international gold prices fell nearly 2% last week, marking the largest weekly decline in over five months. Galaxy Futures pointed out that the election of Trump as the next US president has led the market to believe that his policies of domestic tax cuts, external tariffs, and support for traditional energy will bring prosperity to the US economy, thereby supporting the dollar and US Treasury yields, which puts pressure on precious metals.
On the other hand, if the November FOMC meeting lowers rates by 25bps as the market expects, Powell emphasized the Federal Reserve's independence and adherence to a &#34;data-dependent&#34; monetary policy decision-making approach. However, more insights regarding the outlook for the US economy, especially the impact of future fiscal policies, may only be found in the December Fed's latest dot plot and SEP economic forecasts. Given that Trump's related policies may also lead to higher inflation, the market has generally lowered expectations for potential future rate cuts, further putting pressure on precious metals

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Gold stocks fell across the board in the morning session, with China Silver Group down 5.45%, Zijin Mining and Lingbao Gold both down 4.02%. Influenced by a strong U.S. dollar, international gold prices fell nearly 2% last week, marking the largest weekly decline in over five months. The market has generally lowered expectations for future interest rate cuts, anticipating a 25bps cut at the November FOMC meeting, with Powell emphasizing the Federal Reserve's independence and data-dependent decision-making approach. Trump's election could lead to higher inflation, further suppressing precious metals

- Gold stocks experienced a significant decline in early trading, with China Silver Group down 5.45% and Zijin Mining down 4.02%.  
- The drop in international gold prices, nearly 2% last week, is attributed to a strong dollar and market reactions to Trump's election, which is expected to boost the U.S. economy.  
- The upcoming FOMC meeting is anticipated to result in a 25 basis point rate cut, but concerns about inflation and future fiscal policies may further pressure precious metals.

Zhitong

Zijin Mining

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CHI SILVER GP

Understanding the Market | Gold stocks fell across the board in the morning session as a stronger dollar and U.S. Treasury yields put pressure on gold prices, with the market generally lowering expectations for future interest rate cuts