100万盎司的黄金头寸遭清算！多头命悬一线

Group 1 - China's demand for gold surged recently, with significant inflows into gold ETFs leading to a brief peak in spot gold prices at $3,500 [1] - However, this demand quickly reversed, with Chinese investors liquidating positions before the Labor Day holiday, resulting in a 5% decline from historical highs in total holdings [2][8] - On April 22, Chinese investors increased their holdings by 1.2 million ounces, but subsequently sold nearly 1 million ounces, reversing the previous buying trend [3][5] Group 2 - The total holdings in China have decreased by approximately 5%, and the arbitrage space for paper gold has shrunk by $20 per ounce from its peak [8] - Recent price fluctuations in gold have been heavily influenced by Chinese market activity, particularly during the Asian trading hours, which can trigger trading signals for overseas commodity trading advisors [10] - A strong dollar and easing trade tensions have diminished gold's appeal as a safe-haven asset, with market confidence remaining unstable [12] Group 3 - Analysts noted that gold prices confirmed a break below a three-week upward channel, indicating potential further declines [13] - The relative strength index (RSI) is testing critical support levels, with the need for gold to maintain above the 21-day moving average at $3,230 to preserve bullish potential [13] - If gold fails to hold above this moving average, it may initiate a new downward trend, targeting psychological levels at $3,150 and subsequently the 50-day moving average at $3,081 [13]