Hong Kong-listed gold stocks collectively declined as the strong US dollar pressured precious metals, with spot gold falling below USD 5,100.
On March 9, it was reported that Hong Kong-listed gold stocks collectively declined. As of the time of writing,$CHI SILVER GP (00815.HK)$fell nearly 9%,$EVEREST GOLD (01815.HK)$dropped nearly 8%. In terms of market news, spot gold and spot silver plummeted sharply at the opening on March 9. Spot gold fell below $5,100, with a decline of over 2%; spot silver plunged more than 4%. The US Dollar Index rose to 99.654 during the Asian session on Monday, gaining 0.81% intraday. Additionally, tensions in the Middle East continued to escalate, nearly halting commercial traffic through the Strait of Hormuz, driving international oil prices sharply higher, with both US crude oil and Brent crude futures breaking above $110 per barrel during this morning’s trading session.$ZIJIN MINING (02899.HK)$Dropping more than 8%,$CHINAGOLDINTL (02099.HK)$、$ZHAOJIN MINING (01818.HK)$fell nearly 6%,$CHIFENG GOLD (06693.HK)$declined more than 5%.
In terms of market news, spot gold and spot silver plummeted sharply at the opening on March 9. Spot gold fell below $5,100, with a decline of over 2%; spot silver plunged more than 4%. The US Dollar Index rose to 99.654 during the Asian session on Monday, gaining 0.81% intraday. Additionally, tensions in the Middle East continued to escalate, nearly halting commercial traffic through the Strait of Hormuz, driving international oil prices sharply higher, with both US crude oil and Brent crude futures breaking above $110 per barrel during this morning’s trading session.
Notably, the US Bureau of Labor Statistics recently announced that the seasonally adjusted non-farm payroll employment in February decreased by 92,000 people, marking the first negative figure since October 2025, against market expectations of an increase of 59,000 people. Hua Tai Futures believes that the recent sluggish performance of gold prices may be primarily attributed to market concerns about inflation amid surging energy prices and liquidity tightening triggered by significant fluctuations in the equity markets. However, given the unexpectedly weak non-farm payroll data, the market may temporarily lean toward pricing in stagflation risks in the US economy, which is relatively favorable for gold prices.
Editor/Melody
