--- title: "Understanding the Market | Gold stocks fell across the board as the situation between the U.S. and Iran heats up, raising inflation expectations, while the strong dollar and U.S. Treasury yields suppress precious metal valuations" type: "News" locale: "en" url: "https://longbridge.com/en/news/292431547.md" description: "Affected by the rising tensions between the U.S. and Iran, which have heightened inflation expectations and concerns over Federal Reserve interest rate hikes, gold stocks fell across the board. TONGGUAN GOLD and SD-GOLD both dropped over 2%. Spot gold fell below $4,100, while rising U.S. Treasury yields and a strong dollar suppressed precious metal valuations. Institutions believe that under the backdrop of a return to inflation trading logic, the upside potential for precious metals is limited" datetime: "2026-07-13T03:25:03.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/292431547.md) - [en](https://longbridge.com/en/news/292431547.md) - [zh-HK](https://longbridge.com/zh-HK/news/292431547.md) --- # Understanding the Market | Gold stocks fell across the board as the situation between the U.S. and Iran heats up, raising inflation expectations, while the strong dollar and U.S. Treasury yields suppress precious metal valuations According to Zhitong Finance APP, gold stocks fell across the board. As of the time of publication, Tongguan Gold (00340) was down 3.16%, trading at HKD 1.84; Shandong Gold (01787) was down 3.05%, trading at HKD 17.81; Zijin Gold International (02259) was down 2.85%, trading at HKD 95.5; Zijin Mining (02899) was down 2.73%, trading at HKD 29.18; and Chifeng Gold (06693) was down 2.25%, trading at HKD 27.84. On the news front, the escalating situation between the U.S. and Iran has heightened market expectations for a Federal Reserve interest rate hike. On the morning of July 13, gold continued to decline, with spot gold falling below USD 4,100. The U.S. Central Command reported that the U.S. has initiated its third round of military strikes against Iran within a week. Subsequently, the Iranian Revolutionary Guard Navy announced in the early hours of the 12th that it would block the Strait of Hormuz, prohibiting all vessels from passing until the ban is lifted. Additionally, "Federal Reserve mouthpiece" Nick Timiraos published an article stating that some colleagues of Federal Reserve Chairman Waller are increasingly concerned about inflation, and they may push for discussions on interest rate hikes during the Federal Reserve's meeting on July 28-29. Wanguo Futures believes that precious metals are currently experiencing fluctuations and downward pressure due to the situation in the Middle East and expectations of Federal Reserve interest rate hikes. The breakdown of temporary coordination negotiations between the U.S. and Iran has led to a rebound in energy prices, and the inflation trading logic has returned to the market's main line. With U.S. Treasury yields steadily rising and the U.S. dollar index remaining strong, real interest rates continue to rise, suppressing the valuation of precious metals. Under the Federal Reserve's policy tone of prioritizing inflation reduction, if the U.S.-Iran conflict continues to escalate and the global oil supply structure is impacted, the pace of U.S. inflation decline may be forced to delay, limiting the upward space for precious metals in this context ### Related Stocks - [600547.CN](https://longbridge.com/en/quote/600547.CN.md) - [00340.HK](https://longbridge.com/en/quote/00340.HK.md) - [GOLD.AU](https://longbridge.com/en/quote/GOLD.AU.md) - [GLDW.US](https://longbridge.com/en/quote/GLDW.US.md) - [IAU.US](https://longbridge.com/en/quote/IAU.US.md) - [SGOL.US](https://longbridge.com/en/quote/SGOL.US.md) - [UGL.US](https://longbridge.com/en/quote/UGL.US.md) - [GLDM.US](https://longbridge.com/en/quote/GLDM.US.md) - [GLL.US](https://longbridge.com/en/quote/GLL.US.md) - [GLD.US](https://longbridge.com/en/quote/GLD.US.md) - [01787.HK](https://longbridge.com/en/quote/01787.HK.md) - [02259.HK](https://longbridge.com/en/quote/02259.HK.md) - [02899.HK](https://longbridge.com/en/quote/02899.HK.md) - [06693.HK](https://longbridge.com/en/quote/06693.HK.md) - [601899.CN](https://longbridge.com/en/quote/601899.CN.md) - [600988.CN](https://longbridge.com/en/quote/600988.CN.md) ## Related News & Research - [PRECIOUS-Gold dips as Mideast hostilities revive inflation concerns](https://longbridge.com/en/news/292131325.md) - [PRECIOUS-Gold eases as fresh US-Iran tensions lift oil prices, rate-hike bets](https://longbridge.com/en/news/291995234.md) - [PRECIOUS-Gold slips from two-week high on firmer dollar; Fed minutes in focus](https://longbridge.com/en/news/291782878.md) - [PRECIOUS-Gold slips as stronger dollar weighs; focus on Fed minutes and Gulf tensions](https://longbridge.com/en/news/291912541.md) - [PRECIOUS-Gold slips as oil jumps after Trump says Iran peace deal 'over'](https://longbridge.com/en/news/292040213.md)