Core Viewpoint - The continuous decline in spot gold prices has negatively impacted Hong Kong-listed gold stocks, with significant drops observed across various companies [1]. Group 1: Market Performance - Spot gold prices fell by 3.05% overnight, dropping below $3990 per ounce, and further declined to below $3980 per ounce during the Asian trading session [1]. - The decline in gold prices is attributed to easing trade tensions, which reduced demand for safe-haven assets [1]. Group 2: Company Stock Performance - China Silver Group saw a decline of nearly 5%, while Tongguan Gold dropped nearly 3% [1]. - Other notable declines include: - Zhaojin Mining down 2.52% - Zijin Mining down 2.55% - Chifeng Jilong Gold down 2.25% - China Gold International down 2.00% - Zijin Gold International down 2.04% - Lingbao Gold down 1.61% - Shandong Gold down 1.73% [1]. Group 3: Future Price Expectations - Analysts from Capital Economics have downgraded their gold price forecast, predicting a drop to $3500 per ounce by the end of next year, indicating a potential decline of over 12% from current levels [1].