Understanding the Market | Gold stocks generally decline as overnight gold prices plunge; Federal Reserve officials release cautious signals

Yesterday, gold stocks that surged across the board generally declined this morning. As of the time of writing, PERSISTENCE RES fell 4.52% to HKD 1.9; CHI SILVER GP dropped 4.35% to HKD 0.66; CHIFENG GOLD decreased 3.32% to HKD 31.44; LINGBAO GOLD fell 2.4% to HKD 19.93. On the news front, on the evening of October 2nd, gold suddenly plummeted, briefly falling below USD 3,820 per ounce, retreating about USD 80 from its highest point during the day, after having surged to USD 3,896 per ounce. Spot gold's performance this morning remains volatile, hovering around USD 3,850 per ounce. Overnight, Federal Reserve officials released cautious signals, with Fed's Logan stating that the unemployment rate is expected to rise slightly but not too high. The policy is only slightly tight, which is just right; we must remain highly cautious about interest rate cuts and must not overly relax, or we will have to reverse the policy. Goolsbee emphasized the need to be cautious to avoid premature interest rate cuts. If official unemployment rate data cannot be obtained, the Federal Reserve will make decisions based on the information available