Gold stocks experienced a collective downturn in Hong Kong trading. At the time of writing, PersistenceGold (02489) dropped 6.03% to HK$1.09. Zijin Gold Intl (02259) fell 4.38% to HK$201. LingbaoGold-100 (03330) declined 4.15% to HK$28.18. ChinaGoldIntl (02099) decreased 2.43% to HK$172.9.

The pressure on international gold prices stems from rising oil prices fueling inflation concerns and short-term dollar strength. Reports indicate Iran warned that global markets should prepare for oil prices reaching $200 per barrel following its military's attack on merchant vessels Wednesday. International crude prices surged again, with Brent futures returning to $100 per barrel this morning.

Meanwhile, latest U.S. inflation data showed seasonally adjusted CPI rose 0.3% month-over-month and 2.4% year-over-year in February. Core CPI increased 0.2% monthly and 2.5% annually, both meeting market expectations. GF Securities noted the February data collection window concluded before Iran's military escalation on February 28, meaning it doesn't reflect recent oil price impacts. With delayed rate cut expectations, rising U.S. Treasury yields, and a strengthening dollar index, market sentiment remains tense.