On June 22, Lingbao Gold fell 7.7% in regular trading, trading at HKD 13.67 with turnover of HKD 161 million, marking one of the steepest declines in the gold sector.

On the news front, the Fed maintained its benchmark rate at 3.50%-3.75% unchanged but released distinctly hawkish signals via its dot plot, with 9 of 19 officials indicating rate hikes are needed this year. The median projection shifted from rate cuts to hikes, pushing the USD index above the 100 level. COMEX August gold futures plunged nearly 4.7%, the largest single-day drop for the front-month contract since November 2020, while spot gold breached the critical $4,200 support level.

Market analysis attributes the sell-off to a triple convergence of rising rate hike expectations, institutional forecast downgrades, and geopolitical negotiation uncertainty. Within the gold sector, Jihai Gold fell over 9% to a new annual low, Shandong Gold and Chifeng Gold dropped over 6%, while Zhaojin Mining and China Gold International declined over 5%.

(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.)