--- title: "Understanding the Market | Gold stocks fell across the board as strong non-farm payrolls ignited interest rate hike expectations, with spot gold briefly dropping below USD 4,300" type: "News" locale: "en" url: "https://longbridge.com/en/news/288988977.md" description: "Boosted by strong non-farm payroll data, interest rate hike expectations led spot gold to briefly fall below USD 4,300 per ounce, with gold stocks declining across the board. Lingbao Gold and Zijin Mining International saw declines of over 5%. Goldman Sachs postponed its Federal Reserve rate cut forecast, while Huatai Securities pointed out that geopolitical tensions and rising interest rates are putting pressure on gold prices" datetime: "2026-06-08T02:10:03.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/288988977.md) - [en](https://longbridge.com/en/news/288988977.md) - [zh-HK](https://longbridge.com/zh-HK/news/288988977.md) --- # Understanding the Market | Gold stocks fell across the board as strong non-farm payrolls ignited interest rate hike expectations, with spot gold briefly dropping below USD 4,300 According to Zhitong Finance APP, gold stocks fell across the board. As of the time of writing, Lingbao Gold (03330) fell by 5.96%, trading at HKD 14.05; Zijin Mining International (02259) fell by 5.71%, trading at HKD 110.6; Chifeng Gold (06693) fell by 5.26%, trading at HKD 27.38; Shandong Gold (01787) fell by 2.76%, trading at HKD 21.84. On the news front, on the morning of June 8, spot gold plummeted, briefly falling below USD 4,300 per ounce. The U.S. Bureau of Labor Statistics reported that non-farm payrolls increased by 172,000 in May, nearly double the market expectation of 88,000 and significantly higher than April's 115,000. Following the data release, the yield on 10-year U.S. Treasury bonds soared to 4.55% last Friday, reaching a two-week high. Notably, regarding geopolitical situations, after a ceasefire between the U.S. and Iran for about two months, Iran launched its first attack on Israel. Goldman Sachs economists no longer expect the Federal Reserve to cut interest rates this year due to a stronger-than-expected labor market. The bank has pushed back its forecast for the last two rate cuts by the Federal Reserve from December 2026 and March 2027 to June and December 2027. Huatai Securities believes that the lack of meetings in the Taiwan Strait exacerbates the global energy shortage, and the cash flow tightness in both Gulf countries and developing net-importing countries may further worsen, negatively impacting the short-term supply and demand for gold. Additionally, global nominal interest rates may rise further in the short term, pushing up real rates, which could put further pressure on gold prices ### Related Stocks - [601899.CN](https://longbridge.com/en/quote/601899.CN.md) - [02899.HK](https://longbridge.com/en/quote/02899.HK.md) - [600489.CN](https://longbridge.com/en/quote/600489.CN.md) - [600547.CN](https://longbridge.com/en/quote/600547.CN.md) - [03330.HK](https://longbridge.com/en/quote/03330.HK.md) - [02259.HK](https://longbridge.com/en/quote/02259.HK.md) - [06693.HK](https://longbridge.com/en/quote/06693.HK.md) - [600988.CN](https://longbridge.com/en/quote/600988.CN.md) - [01787.HK](https://longbridge.com/en/quote/01787.HK.md) - [GS.US](https://longbridge.com/en/quote/GS.US.md) - [601688.CN](https://longbridge.com/en/quote/601688.CN.md) - [02919.HK](https://longbridge.com/en/quote/02919.HK.md) - [W4VR.SG](https://longbridge.com/en/quote/W4VR.SG.md) - [06886.HK](https://longbridge.com/en/quote/06886.HK.md) - [HTSC.UK](https://longbridge.com/en/quote/HTSC.UK.md) ## Related News & Research - [Lingbao Gold Sharply Increases H-Share Buyback Capacity](https://longbridge.com/en/news/289001556.md) - [Gold Advances As Expectations Of An End To Middle East Crisis Increase](https://longbridge.com/en/news/288757076.md) - ['Everyone's Got A Plan 'Til They Get Punched In The Mouth': 3 Things Top Goldman Quant Learned On Friday](https://longbridge.com/en/news/288972231.md) - [Why stocks are cratering after a blowout jobs report](https://longbridge.com/en/news/288893442.md) - [ANALYSIS-Soaring fertilizer prices dim Brazilian farmers' edge over US rivals](https://longbridge.com/en/news/289035820.md)