Understanding the Market | Gold stocks collectively weakened, international gold prices came under pressure again, institutions suggest that gold may temporarily maintain a fluctuating pattern
Gold stocks collectively weakened, with LINGBAO GOLD down 3.62%, TONGGUAN GOLD down 3.03%, and CHIFENG GOLD down 2.76%. Spot gold briefly fell below $3,230 per ounce, reported at $3,233.49 per ounce. Huatai Futures believes that the results of the China-U.S. talks have boosted market risk sentiment, putting pressure on gold prices. CITIC Futures pointed out that the U.S. CPI fell short of expectations, leading to an increase in market interest rate cut expectations, with some funds flowing into gold and other safe-haven assets. Overall, gold may temporarily maintain a volatile pattern
According to Zhitong Finance APP, gold stocks collectively weakened. As of the time of writing, LINGBAO GOLD (03330) fell 3.62% to HKD 8.51; TONGGUAN GOLD (00340) fell 3.03% to HKD 1.28; CHIFENG GOLD (06693) fell 2.76% to HKD 24.65; and Shandong Gold (01787) fell 2.16% to HKD 22.65.
In terms of news, on May 14, spot gold briefly fell below USD 3,230 per ounce. As of the time of writing, it was reported at USD 3,233.49 per ounce, down 0.5% for the day; COMEX gold futures main contract latest reported USD 3,231.7 per ounce, down 0.51% for the day. Huatai Futures believes that the recent Geneva talks between China and the United States, which yielded relatively good results, have fostered market risk sentiment, putting some pressure on gold prices. However, Trump's tariff policy remains relatively volatile, and future inflation expectations may still rise under the influence of tariffs. Therefore, under the current circumstances, gold may temporarily maintain a fluctuating pattern.
CITIC Futures stated that the U.S. April CPI was below expectations, leading to an increase in market interest rate cut expectations. The short-term tariff pause in the China-U.S. trade agreement lacks substantial progress, causing market doubts about the details of subsequent negotiations, which has led some funds to flow into safe-haven assets like gold. In addition, the U.S. hardline trade stance towards the European Union has exacerbated economic uncertainty. Although the reduction of trade barriers between China and the U.S. has alleviated supply chain inflation concerns, the inflationary fears from tariffs still support the long-term allocation value of gold
