--- title: "Understanding the Market | Gold stocks' afternoon decline widens, precious metals retreat after two days of gains, rising oil prices may drag down gold prices" type: "News" locale: "en" url: "https://longbridge.com/en/news/277568322.md" description: "Gold stocks expanded their decline in the afternoon. As of the time of writing, ZIJIN GOLD INTL fell 8.74%, trading at HKD 223.4; China Gold International dropped 8.3%, trading at HKD 194.4; Zijin Mining decreased 6.13%, trading at HKD 43.22; and CHIFENG GOLD fell 5.58%, trading at HKD 42. In terms of news, spot gold turned to decline during the day, approaching the USD 5,300 mark; spot silver fell below USD 87 per ounce, dropping over 3% during the day; and the main contract for Shanghai silver plummeted 6.00% during the day. Precious metals have retreated after two days of gains, with some analysts pointing out that the cumulative increase in gold in February exceeded 8%, indicating that the market has priced in a certain degree of potential geopolitical risks, leading to relatively weakened momentum after the news broke. Societe Generale stated that if the escalation of the situation in the Middle East affects the safety of shipping in the Strait, it will directly trigger a surge in oil prices. A significant rise in oil prices will not only exacerbate global stagflation concerns but also strengthen market expectations for central banks to delay interest rate cuts. Stagflation will weaken gold's anti-inflation advantage, while delaying interest rate cuts will increase the opportunity cost of holding gold. The combined effect of both factors is dragging down the performance of precious metals" datetime: "2026-03-03T06:03:19.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/277568322.md) - [en](https://longbridge.com/en/news/277568322.md) - [zh-HK](https://longbridge.com/zh-HK/news/277568322.md) --- > Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/277568322.md) | [繁體中文](https://longbridge.com/zh-HK/news/277568322.md) # Understanding the Market | Gold stocks' afternoon decline widens, precious metals retreat after two days of gains, rising oil prices may drag down gold prices According to Zhitong Finance APP, gold stocks expanded their decline in the afternoon. As of the time of publication, ZIJIN GOLD INTL (02259) fell by 8.74%, trading at HKD 223.4; China Gold International (02099) dropped by 8.3%, trading at HKD 194.4; Zijin Mining (02899) decreased by 6.13%, trading at HKD 43.22; and CHIFENG GOLD (06693) fell by 5.58%, trading at HKD 42. In terms of news, spot gold turned to decline during the day, approaching the USD 5,300 mark; spot silver fell below USD 87/ounce, dropping over 3% during the day; and the main contract for Shanghai silver plummeted by 6.00% during the day. Precious metals have retreated after two days of gains, with some analysts pointing out that the cumulative increase in gold in February exceeded 8%, indicating that the market has priced in a certain degree of potential geopolitical risks, leading to relatively weakened momentum after the news broke. Société Générale stated that if the escalation of the situation in the Middle East affects the safety of shipping in the Strait, it will directly trigger a surge in oil prices. A significant rise in oil prices will not only exacerbate global stagflation concerns but also strengthen market expectations for central banks to delay interest rate cuts. Stagflation will weaken gold's anti-inflation advantage, while delaying interest rate cuts will increase the opportunity cost of holding gold. The combined effect of both factors is dragging down the performance of precious metals ### Related Stocks - [ZIJIN GOLD INTL (02259.HK)](https://longbridge.com/en/quote/02259.HK.md) - [Centerra Gold Inc. 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