Warsh Hawks on Inflation: CSOP Gold Daily (2x) Plummets Over 7%

The CSOP Gold Daily (2x) Leveraged Product (07299) dropped over 7% in value, falling to HK$24.62 with a turnover of HK$74.6289 million.

This decline comes as Federal Reserve Chair Kevin Warsh reaffirmed the central bank's commitment to fighting inflation at the Jackson Hole Annual Economic Symposium.

Warsh emphasized that the Fed's 2% PCE inflation target remains firm and fixed, stating that there is still work to do if underlying inflation is not falling toward this target quickly enough.

Market data shows that the yield on the two-year U.S. Treasury note rose over 10 basis points intraday, reaching a one-month high.