May 16 newsjackpotjunction, Hong Kong stocks and gold stocks continued to strengthen. China Gold International rose more than 7%, Lingbao Gold rose more than 5%, Zhaojin Mining rose more than 3%, and Shandong Gold rose more than 2%.
On the news front, the United States recorded a non-seasonally adjusted CPI annual rate of 3 per cent in April.jackpotjunction.4%, lower than the previous value of 3.5%, in line with market expectations; the core CPI monthly rate fell back to 0.3% as scheduled in April, the lowest since December last year. U.S. retail sales were flat month-on-month in April, below market expectations of 0.4%, as traders hardened their bets that the Federal Reserve will cut interest rates in September and December.
As expectations of the Federal Reserve's interest rate cut heat up, the US dollar index fell 0.64% on Wednesday, hitting a five-week low, and U.S. Treasury yields also fell. Gold's appeal to investors has strengthened, with gold prices rising to its highest level in nearly a month. The June gold futures price on the New York Stock Exchange rose 1.48% to US$2,394.9 per ounce.