Movement Alert｜CHIFENG GOLD Falls 3.05% in Regular Trading, HSBC Gold Price Forecast Cut Weighs on Sector

Market Focus

5 hours ago

On October 8, CHIFENG GOLD fell 3.05% in regular trading, trading at HK$33.66, with turnover of approximately HK$95.90 million.

The decline was driven by HSBC's downward revision to its gold price forecasts. Citing expectations of further U.S. interest rate hikes and short-term pressure from rising oil prices, HSBC lowered its 2026 average gold price forecast to US$4,490 per ounce from US$4,560, and its 2027 forecast to US$4,825 from US$4,925. The sector broadly weakened, with ZIJIN GOLD INTL down 3.24%, SD GOLD down 3.11%, LINGBAO GOLD down 4.43%, CHINAGOLDINTL down 3.07%, and ZHAOJIN MINING down 2.12%.

(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.)

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Citing expectations of further U.S. interest rate hikes and short-term pressure from rising oil prices, HSBC lowered its 2026 average gold price forecast to US$4,490 per ounce from US$4,560, and its 2027 forecast to US$4,825 from US$4,925. The sector broadly weakened, with ZIJIN GOLD INTL down 3.24%, SD GOLD down 3.11%, LINGBAO GOLD down 4.43%, CHINAGOLDINTL down 3.07%, and ZHAOJIN MINING down 2.12%.</p><p>(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. 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