Shares of Zijin Gold International plummeted 5.02% during intraday trading on Wednesday, reflecting significant selling pressure in the gold sector.

The sharp decline was driven by multiple macroeconomic headwinds pressuring precious metals. Surging U.S. Treasury yields, with the 30-year yield breaking through key levels to reach its highest point in nearly two decades, increased the opportunity cost of holding non-yielding gold. Concurrently, a strengthening U.S. dollar and intensifying market expectations for a Federal Reserve interest rate hike within the year further weighed on gold's appeal.

Additional pressure came from fundamental factors, including India's decision to raise gold import tariffs, which is expected to curb physical demand, and spot gold prices breaking below the $4,500 per ounce threshold. These combined factors triggered a broad sell-off across gold-related stocks in the Hong Kong market.