Market Insight | Gold stocks collectively decline, Lingbao Gold falls more than 4% as the US dollar strengthens, putting pressure on gold prices to fall back

Gold stocks collectively declined. As of the time of publication, Lingbao Gold fell by 4.45% to HKD 2.79; CHINAGOLDINTL fell by 3.39% to HKD 34.2; Zijin Mining fell by 2.31% to HKD 16.88; SD GOLD fell by 1.42% to HKD 16.64. On the news front, due to the continued strength of the US dollar, the price of gold touched a daily high of $2666 per ounce on Monday before falling back. Yesterday, Federal Reserve Governor Waller stated that the Fed should be more cautious about cutting interest rates than it was at the September meeting. If inflation falls below 2%, which is unlikely, or if the labor market deteriorates, the Fed could cut rates earlier. If inflation unexpectedly rises, the Fed may pause rate cuts. According to reports, Israel may avoid attacking Iran's oil infrastructure, easing concerns about the tense situation in the Middle East. Institutions believe that if geopolitical factors are eased or if there is a certain degree of weakening in gold allocation demand