Movement Alert|LINGBAO GOLD Falls 5.17% in Regular Trading, Fed Hawkish Signal Continues to Weigh on Gold Sector

Market Focus
09/22

On September 22, LINGBAO GOLD fell 5.17% in regular trading, trading at HK$22.02/share, with turnover of HK$253 million. The broader gold sector remained under heavy selling pressure, with ZIJIN GOLD INTL down 5.23%, ZHAOJIN MINING down 3.27%, SD GOLD down 2.77%, and CHINAGOLDINTL down 2.22%.

The decline extends multi-day weakness triggered by the Fed's September 17 decision to raise interest rates by 25 basis points to 3.75%-4.00%, its first hike since July 2023. The dot plot showed 16 of 18 committee members expecting at least one additional hike this year, while Chair Waller stated that inflation remains \"too high and too persistent.\" The USD index reclaimed the 100 level following the decision, and spot gold fell to approximately $4,242/oz, directly pressuring gold equities. Institutions expect precious metals to maintain a volatile pattern in the near term as the market digests the prospect of further tightening.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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