Zijin Gold International's stock plummeted 5.14% during intraday trading, extending recent losses in the gold sector.

The decline follows hawkish signals from the new Federal Reserve Chair, which increased expectations for interest rate hikes. According to market analysis, the probability of a 25-basis-point rate hike within the year surged to 67.1%, raising the opportunity cost of holding non-yielding gold assets. Additionally, renewed tensions in the Middle East have pushed oil prices higher, reigniting inflation concerns and further reinforcing expectations for tighter monetary policy.

These factors created dual headwinds for gold prices, contributing to a broader decline across the gold mining sector during the trading session.