Hong Kong Stock Moves | Gold stocks collectively decline as multiple Fed officials adopt a hawkish stance, causing significant fluctuations in international gold prices.

According to Zhitong Finance APP, gold stocks opened collectively lower. As of press time, China Silver International (00815.HK) fell 4.11% to HKD 0.7; Tongguan Gold (00340.HK) dropped 2.07% to HKD 2.84; Lingbao Gold (03330.HK) declined 2.41% to HKD 17.38; Zijin Gold International (02259.HK) decreased 2.16% to HKD 140.1.

On the news front, Federal Reserve official Kashkari recently stated that he has no strong preference for a rate cut in December at this point; Fed's Hamaker noted that monetary policy still needs to remain tight to curb inflation; Fed's Musalem also reiterated that he believes current monetary policy is approaching neutrality, with limited room for easing. According to CME's 'FedWatch': The probability of a 25-basis-point rate cut by the Fed in December has dropped to 51.6%. Affected by hawkish remarks from Fed officials, gold and silver prices plummeted rapidly. Spot gold fell more than USD 100 per ounce intraday.