Understanding the Market | Gold stocks lead the decline as Trump's tariff measures are "suspended," and spot gold briefly fell below the 3250 mark
Gold stocks fell sharply. As of the time of writing, LINGBAO GOLD dropped 4.8%, trading at HKD 10.7; CHIFENG GOLD fell 4.06%, trading at HKD 27.2; SD GOLD decreased by 2.43%, trading at HKD 24.05; and China Gold International declined by 2.37%, trading at HKD 59.75. In terms of news, during the early trading session in Asia on Thursday, spot gold fluctuated downwards, briefly falling below the USD 3,250 mark. As of the time of writing, spot gold was reported at USD 3,251.95 per ounce, down over 1% for the day. On May 28 local time, a U.S. federal court blocked the tariff policy announced by President Trump on April 2, "Liberation Day," ruling that Trump had overstepped his authority. Minmetals Futures believes that with the release of overseas tariff risk factors and the Federal Reserve's monetary policy expectations leaning towards a hawkish stance, the dual negative factors will lead to a weak performance in precious metal prices in the short term
According to Zhitong Finance APP, gold stocks are among the biggest losers. As of the time of writing, LINGBAO GOLD (03330) is down 4.8%, trading at HKD 10.7; CHIFENG GOLD (06693) is down 4.06%, trading at HKD 27.2; SD GOLD (01787) is down 2.43%, trading at HKD 24.05; and China Gold International (02099) is down 2.37%, trading at HKD 59.75.
In terms of news, on Thursday morning in Asia, spot gold fluctuated and fell, briefly dropping below the USD 3,250 mark. As of the time of writing, spot gold is reported at USD 3,251.95 per ounce, down more than 1% for the day. On May 28 local time, a U.S. federal court blocked the tariff policy announced by President Trump on "Liberation Day" on April 2, ruling that Trump had overstepped his authority. Minmetals Futures believes that the release of overseas tariff risk factors and the hawkish stance of the Federal Reserve's monetary policy will lead to a short-term weak performance in precious metal prices under these dual negative factors
