--- title: "US Sep Rate Hike Odds Seen at 80%; Gold Miners Slide with Gold Prices; LAOPU GOLD Sinks 5%; Resource Stocks Weaken" type: "News" locale: "en" url: "https://longbridge.com/en/news/293694367.md" description: "US September rate hike odds rose to 80% amid Middle East tensions and inflation concerns, causing gold prices to retreat over 2%. Consequently, gold mining stocks like Zijin Mining and jewelry stocks including Laopu Gold declined significantly. Broader Asia-Pacific markets weakened due to new US tariffs, with resource stocks such as MMG and CMOC also posting losses. Despite short-term drops, UBS maintained a bullish long-term outlook on gold." datetime: "2026-07-24T03:01:02.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/293694367.md) - [en](https://longbridge.com/en/news/293694367.md) - [zh-HK](https://longbridge.com/zh-HK/news/293694367.md) generator: "portal-rs" --- # US Sep Rate Hike Odds Seen at 80%; Gold Miners Slide with Gold Prices; LAOPU GOLD Sinks 5%; Resource Stocks Weaken Oil prices were pushed higher by tensions in the Middle East, triggering inflation concerns and reigniting expectations of US interest rate hikes within the year. CME FedWatch data showed the market is betting on about an 80% chance of a Federal Reserve rate hike in September, higher than the 68% recorded on Wednesday (22nd). Jim Wyckoff, an analyst at the American Gold Exchange (AGE), said the market has already priced in no rate hike by the Federal Reserve next week, though the tone may be "hawkish". However, if the Federal Reserve unexpectedly adopts an "extremely hawkish" or "extremely dovish" stance next week, the market would react accordingly. International gold prices retreated from a two-week peak, falling more than 2% overnight (23rd). Spot gold was last quoted at about USD4,043 per ounce. Combined with new US tariffs of 10% to 12.5% imposed on about 60 countries or regions, major Asia-Pacific markets broadly declined. Hong Kong stocks last stood at 24,949 points, down 261 points or 1%, with turnover of HKD75.8 billion. Gold mining stocks weakened alongside gold prices. ZIJIN MINING (02899.HK) -1.360 (-4.057%) Short selling $1.12B; Ratio 40.762% last traded at HKD32.4, down 3.34%, with turnover of HKD586 million. Its subsidiary ZIJIN GOLD INTL (02259.HK) -5.800 (-4.854%) Short selling $522.79M; Ratio 37.148% last traded at HKD115, down 3.77%, with turnover of HKD229 million. LINGBAO GOLD (03330.HK) -1.190 (-6.041%) Short selling $33.36M; Ratio 4.397% and CHINAGOLDINTL (02099.HK) -8.900 (-5.080%) Short selling $165.25M; Ratio 21.750% each fell more than 4%, while CHIFENG GOLD (06693.HK) -1.440 (-4.497%) Short selling $65.85M; Ratio 10.127% dropped 3.5%, and SD GOLD (01787.HK) -0.510 (-2.545%) Short selling $47.07M; Ratio 11.742% and ZHAOJIN MINING (01818.HK) -0.760 (-3.650%) Short selling $42.66M; Ratio 12.217% declined 2.1% to 2.9%. UBS said recently that the short-term decline in gold prices is not a reason to abandon gold, as the long-term trend remains clear. The bank expects the US to resume rate cuts in March next year. UBS maintained its gold price targets for September and December this year, as well as March and June next year, at USD4,400, USD4,600, USD5,000 and USD5,200 per ounce, respectively. Jewelry stocks generally declined. LAOPU GOLD (06181.HK) -25.800 (-6.582%) Short selling $118.70M; Ratio 30.056% was quoted at HKD370.2, down 5.56%, making it the worst-performing blue chip stock, with turnover of HKD160 million. CHOW TAI FOOK (01929.HK) -0.310 (-2.478%) Short selling $83.72M; Ratio 35.392% fell 1.8%, CHOW SANG SANG (00116.HK) -0.170 (-1.431%) Short selling $622.75K; Ratio 2.909% dropped 1.4%, and LUK FOOK HOLD (00590.HK) -0.300 (-1.229%) Short selling $3.78M; Ratio 8.027% edged down 0.3%. ZHOU LIU FU (06168.HK) +0.550 (+3.691%) Short selling $92.10K; Ratio 2.595% last traded at HKD15.66, bucking the market trend with a 5.1% gain, with turnover of HKD10.5378 million. Resource stocks also weakened. MMG (01208.HK) -0.540 (-6.178%) Short selling $172.61M; Ratio 31.748% fell 5%, while CHALCO (02600.HK) -0.410 (-4.751%) Short selling $119.36M; Ratio 14.971% and JIANGXI COPPER (00358.HK) -2.060 (-5.694%) Short selling $56.21M; Ratio 9.180% dropped 4% to 4.5%. CMOC (03993.HK) -0.880 (-4.997%) Short selling $183.07M; Ratio 20.180% declined 3.9%, while JIAXIN INTL RES (03858.HK) -2.250 (-3.968%) Short selling $14.93M; Ratio 9.452% , CHINFMINING (01258.HK) -0.650 (-4.389%) Short selling $32.69M; Ratio 16.550% and CHINAHONGQIAO (01378.HK) -0.920 (-3.843%) Short selling $564.75M; Ratio 33.331% each fell 2.9%. (da/u)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-07-23 16:25.) ### Related Stocks - [03993.HK](https://longbridge.com/en/quote/03993.HK.md) - [06181.HK](https://longbridge.com/en/quote/06181.HK.md) - [01208.HK](https://longbridge.com/en/quote/01208.HK.md) - [02899.HK](https://longbridge.com/en/quote/02899.HK.md) - [603993.CN](https://longbridge.com/en/quote/603993.CN.md) - [601899.CN](https://longbridge.com/en/quote/601899.CN.md) - [MMG.AU](https://longbridge.com/en/quote/MMG.AU.md) ## Related News & Research - [CMOC Last Soars 5%+; Interim Profit Surges 86%, Revenue Hits Record High; Interim DPS Resumed at RMB0.095](https://longbridge.com/en/news/296423052.md) - [Zijin Mining Delivers Strong Profit Surge in First Half of 2026](https://longbridge.com/en/news/296702519.md) - [Laopu Gold: Revenue up 60%, net profit up 88%, and interim dividend nearly doubled year-over-year](https://longbridge.com/en/news/296882097.md) - [New Buy Rating for CMOC Group (CMCLF), the Basic Materials Giant](https://longbridge.com/en/news/296660593.md) - [ZIJIN MINING Interim Net Profit Up 68.2% YoY to RMB39.17B; Interim DPS RMB4.2 per 10 Shares](https://longbridge.com/en/news/296702271.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**