Chifeng Gold's stock experienced a sharp decline of 5.54% during intraday trading on Friday, underperforming within the broader market.

The sell-off in gold-related stocks, including Chifeng Gold, was primarily driven by two key factors. First, a significant rise in U.S. Treasury yields this week has shifted market expectations regarding the Federal Reserve's future monetary policy, increasing adjustment pressure on non-yielding assets like gold. Secondly, the Indian government announced a substantial increase in import duties on gold and silver, a move aimed at curbing domestic demand for precious metals, which has negatively impacted sentiment for gold producers.