Gold stocks experienced broad declines in the Hong Kong market. At the time of writing, China Gold International (02099) fell 3.44% to HK$174.5. Shandong Gold (01787) dropped 3.38% to HK$31.42. Zijin Gold International (02259) decreased 3.03% to HK$169.7. Chifeng Gold (06693) was down 1.41% to HK$41.82. The market movement follows comments from Federal Reserve Chair nominee Warsh during a Senate hearing, which conveyed a more hawkish stance than markets had anticipated, leading to a further scaling back of interest rate cut expectations. Warsh stated that he had made no promises to President Trump regarding rate cuts, seeking to assure senators considering his nomination that he would operate independently from the White House while pursuing broad reforms. Notably, persistently high oil prices continue to fuel inflation concerns, with oil having surged above $100 per barrel yesterday. In a related development, US President Trump announced an extension of a ceasefire, at Pakistan's request, pending Iran's submission of a unified negotiation proposal and the completion of discussions. However, Iran has explicitly stated it did not request an extension and has formally declined to attend the second round of talks scheduled for April 22nd in Islamabad.