Futu News reported on August 12 that international gold and silver prices plummeted, Hong Kong gold stocks plummeted across the board. Shandong gold fell more than 8%, Zhaojin mining fell more than 7%, and Zijin mining fell more than 5%.

Furthermore, China Baiyin Group fell more than 8% to HK$0.9.

Last night, London gold once plummeted more than 6% to 1900.97 US dollars, and plummeted more than 120 US dollars. In the end, it closed down 5.7% to 1911.4 US dollars, the biggest one-day decline in more than 7 years. Bank of London is even worse now. Yesterday, it closed down 14.96% to 24.77 US dollars, the highest decline since the Lehman crisis.

Some analysts said that news about Russia registering its first COVID-19 vaccine on Tuesday boosted market confidence and suppressed the safe-haven asset gold. In addition, White House advisers also said that Trump will hold a press conference to introduce the latest developments in the six COVID-19 vaccines. There were no important macroeconomic data to be released last night, and the market's main driver will still be risk sentiment.