HK Movers | Nonferrous Metal Shares Jump as Spot Gold Rises 1%. Lingbao Gold up over 7%; Dragon Mining, Tongguan Gold, Chifeng Mining up over 6%

TigerSep 16, 2026 3:21 AM

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Nonferrous metal shares jumped in Hong Kong market as spot gold rose 1% to $4,337 per ounce. Lingbao Gold up over 7%; Dragon Mining, Tongguan Gold, Chifeng Mining up over 6%.

Traders are now pricing in a 92.4% chance of at least a ⁠25-basis-point U.S. rate hike later in the day, according to CME FedWatch. The policy decision will be followed by a press conference from Fed Chair Kevin Warsh.

"A hawkish Fed could further pull gold down, while any soft messaging may ease bets on hikes and help the metal recover. Traders are also monitoring oil prices and developments in the Middle East," said Frank Walbaum, a market analyst at trading platform Naga.com.

Gold is often seen as an inflation hedge, but higher rates increase the opportunity cost of holding non-yielding ‌bullion.

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