On September 24, LINGBAO GOLD fell 5.09% in regular trading, trading at HKD 20.9 per share, with turnover of HKD 383 million. The decline came alongside broad-based weakness across gold mining stocks.

On the news front, the Federal Reserve announced a 25-basis-point rate hike on September 17, lifting the federal funds rate target range to 3.75%-4.00% — its first increase in over three years. The latest dot plot raised the year-end rate forecast median to 4.1%, with 16 officials projecting at least one more hike this year. Fed Chair Waller stated that inflation remains elevated, signaling the tightening cycle is far from over. The USD index surged past the 101 level to an eight-week high, while spot gold remained under pressure near USD 4,242 per ounce.

Within the Gold sector, stocks declined broadly. ZIJIN GOLD INTL fell 3.89%, ZHAOJIN MINING fell 3.77%, SD GOLD fell 3.64%, CHIFENG GOLD fell 3.46%, and CHINAGOLDINTL fell 2.72%. Institutions expect precious metals to maintain a volatile and weak pattern in the near term, with recovery contingent on a slowdown in USD strength or cooling of further tightening expectations.

(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.)