The expectation of interest rate hikes in the United States is rising, and the market is awaiting the release of the U.S. PCE data for May, which is of interest to the Federal Reserve, tonight in Hong Kong time. Spot gold fell below the USD 4,000 per ounce mark on the night of the 24th, and this morning (25th) during the Asian session, it continued to be under pressure, recently down 0.56% to USD 3,977.21 per ounce, marking the lowest level in nearly eight months since early November last year; August gold futures also fell below the USD 4,000 mark, down 0.31% to USD 3,996.2 per ounce.

Gold mining stocks in Hong Kong were under pressure in the early session, with blue-chip Zijin Mining (02899.HK) currently at HKD 27.52, hitting a nearly ten-month low since early September last year, down 6.52%. Zhaojin Mining (01818.HK) is currently at HKD 16.69, reaching a low not seen in over a year, down 8.45%. Rare Earth Gold (03788.HK), Long Resources (01712.HK), Tongguan Gold (00340.HK), Chifeng Gold (06693.HK), WanGuo Gold (03939.HK), Zijin Gold International (02259.HK), Lingbao Gold (03330.HK), Shandong Gold (01787.HK), and China Gold International (02099.HK) all fell by about 6% to 9%