On September 28, MicroSectors Gold Miners 3x Leveraged ETN fell 12.31% in pre-market trading, trading at $111.3/share, with turnover of $4.5285 million. The product is a triple-leveraged long ETN tracking gold mining stocks, amplifying the sector's steep losses.

On the news front, spot gold broke below the $4,200/oz level, declining more than 2% intraday, with London gold settling below $4,300 for multiple consecutive sessions. Following the Fed's September rate hike, multiple officials continued to deliver hawkish rhetoric. Market pricing indicates an approximately 71% probability of another 25-basis-point hike in October. The combination of consecutive rate hike expectations, a strengthening U.S. dollar, and surging Treasury yields collectively weighed on gold prices. Industry participants warned that if the Fed delivers additional unexpected hikes before year-end while signaling a higher terminal rate, gold could fall further.

The pressure extended globally, with Hong Kong-listed gold stocks broadly declining on the same day — Shandong Gold fell 8.90%, Lingbao Gold dropped 8.87%, and Zhaojin Mining slid 5.51%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)