Gold mining stocks extended losses in Hong Kong trading. At the time of writing, CHIFENG GOLD (06693) fell 5.22% to HK$41.4, while EVEREST GOLD (01815) dropped 4.64% to HK$1.44. ZIJIN GOLD INTL (02259) declined 3.29% to HK$196.9, and SD GOLD (01787) decreased 3.22% to HK$38.42. The sell-off comes as oil prices surpassing $100 per barrel have intensified inflation concerns, pushing the US dollar index near the 100 mark. Rising energy costs are diminishing market expectations for Federal Reserve interest rate cuts this year. According to CME's FedWatch tool, federal funds futures traders have largely ruled out the possibility of a September rate cut and now anticipate only one potential cut in December. Interest rate swaps tied to Fed meeting dates indicate that traders are no longer fully confident the central bank will implement any rate reductions in 2024.