金价坐上“过山车” 大起大落后能否上车？

Core Viewpoint - The international gold price has experienced significant volatility since April 3, reaching historical highs before dropping below $3,000, influenced by geopolitical factors and market sentiment [1][2]. Group 1: Gold Price Fluctuations - On April 3, the London gold price peaked at $3,167.74 per ounce, while COMEX gold surpassed $3,200, marking historical highs [1]. - By April 7, both London gold and COMEX gold fell below the $3,000 mark for the first time since March 21, with COMEX gold closing at $2,998.8 per ounce after a brief recovery [1]. - The price of gold jewelry from brands like Chow Tai Fook dropped to 918 yuan per gram, a decrease of 14 yuan from the previous day and 44 yuan from the peak on April 3 [1]. Group 2: Impact of Tariff Policies - The U.S. "reciprocal tariff" policy is viewed as a key factor behind the decline in gold and other asset prices, signaling an escalation in international trade tensions [2]. - The implementation of these tariffs has led to increased market uncertainty, affecting investor sentiment and risk appetite [2]. - Historical trends indicate that during early stages of liquidity risk, gold prices may decline alongside risk assets due to investor behavior and liquidity needs [2]. Group 3: Silver Price Sensitivity - Silver prices have shown even greater volatility than gold, with COMEX silver dropping nearly 15% and London silver over 12% from April 3 to April 4 [3]. - The industrial applications of silver, alongside its safe-haven attributes, make it more susceptible to market fluctuations, especially in light of potential impacts from tariff policies on global trade and industrial output [3]. - The silver market is characterized by higher speculation, making it more reactive to significant events or policy changes compared to the gold market [3].