Lingbao Gold's stock plummeted 5.13% during intraday trading, reflecting a sharp decline in the gold sector.

The drop was primarily driven by a continued sharp correction in international gold prices, which have retreated nearly 20% from recent highs, coupled with rising expectations for Federal Reserve interest rate hikes. These factors, along with a strengthening U.S. dollar, created significant macro pressure on gold-related equities.

The sell-off was broad-based across the gold sector, indicating widespread investor concern over the current headwinds facing precious metals. Despite the near-term pressure, medium-to-long term fundamentals for gold, including continued central bank purchases, remain supportive.