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Stock Track | Lingbao Gold Plummets 5.65% Intraday Amid Rising US Yields and Geopolitical Tensions

Stock Track05-18

Lingbao Gold's stock plummeted 5.65% during intraday trading on Monday, reflecting significant selling pressure on the Hong Kong-listed gold miner.

The decline was part of a broader sell-off in the precious metals sector, pressured by simultaneously rising US Treasury yields and a stronger US Dollar Index. Spot gold briefly fell below $4,500 per ounce, its lowest level since late March. Market sentiment was further weighed down by expectations of potential interest rate hikes from the Federal Reserve, with money markets pricing in a high probability of a rate increase by the end of the year.

Adding to the uncertainty are heightened geopolitical tensions, particularly between the US and Iran, which have created volatility in commodity markets. Analysts note that with market sentiment swaying by war-related news, gold prices currently lack clear directional guidance, contributing to the pressure on gold-related equities like Lingbao Gold.

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