According to the Wise News Financial APP, the trend of golden industrial concept is weak. As of the deadline, Lingbao Gold (03330) fell by 4% to HK$3.36; Chi Silver GP (00815) fell by 1.59% to HK$0.31; Zijin Mining Group (02899) fell by 1.3% to HK$16.7; SD Gold (01787) fell by 0.91% to HK$15.28.

On the news front, the international gold price has been volatile recently, hitting a historical high once in the past week before retreating. In the early hours of October 30, the spot gold price once touched a historical high of $2,790.15 per ounce, followed by a nearly 2% pullback over the next two days. Baicheng Futures stated that after a continuous rise in precious metals recently, there is a strong willingness in the market to close long positions. With the approaching U.S. election and November interest rate meeting, short-term market uncertainty is rising, and funds may continue to take profits.

However, JPMorgan believes that the driving factors for the gold price remain in the long term and does not change the optimistic view in the long term. Gold continues to be a major beneficiary of the Fed's interest rate cuts, central bank gold purchases, and global trading focused on currency devaluation, supporting the gold price at different times over the past year. Regardless of the outcome of the U.S. election, these driving factors may continue to exist.