Changes in Hong Kong stocks | Gold stocks are generally under pressure, rising oil prices exacerbate concerns about rising inflation, and the hawks in the Federal Reserve send a tough signal

The Zhitong Finance App learned that gold stocks were generally under pressure. As of press release, China Gold International (02099) fell 3.21% to HK$205.2; Zijin Mining (02899) fell 3.14% to HK$36.38; Lingbao Gold (03330) fell 2.8% to HK$23.6; and Chifeng Gold (06693) fell 2.14% to HK$38.44.

According to news, the US and Burundian markets continued to rise on Monday, supported by uncertain prospects for the reopening of the Strait of Hormuz and continuing tension in the Middle East. Market concerns about the upward risk of US inflation have been heightened, and expectations of the Fed's interest rate hike during the year have heated up. At the same time, US Cleveland Federal Reserve Chairman Beth Hammark said that the Federal Reserve may need to raise interest rates several times to push the inflation rate down to the central bank's target level of 2%.

The price of gold has been rising for three consecutive trading days, and spot gold is currently above 4,400 US dollars. Huatai Futures believes that at this stage, the reaction of precious metals to central changes in oil prices is relatively lackluster. There have been many cases where gold prices rise at the same time as oil prices. If there are no obvious signs of marginal warming or substantial breakdown in negotiations, precious metals may continue to fluctuate at a high level and expectations of trading interest rate hikes will subside; therefore, it is expected that gold prices may be dominated by strong fluctuations in the near future.