涨得猛跌得狠！金银高位“跳水” 创纪录涨势暂告一段落

Core Viewpoint - Recent sharp sell-off in gold and silver prices is attributed to investor concerns over high valuations following a historic price surge, leading to profit-taking [1][4] Group 1: Price Movements - Spot gold prices fell over 6.3%, marking the largest single-day drop in over a decade, while spot silver dropped by 8.7% [1] - The recent decline ended a bullish trend for both metals, which had reached historical highs just a week prior [1] - The surge in gold prices was driven by expectations of significant interest rate cuts by the Federal Reserve and a shift away from sovereign debt due to concerns over budget deficits [1] Group 2: Market Dynamics - Strong technical indicators contributed to the gold price correction, with support expected in the $4,000 to $4,050 range [3] - The influx of $8 billion into physical gold ETFs last week was the largest weekly inflow recorded since 2018, driven by concerns over U.S. economic credit quality [4] - The strong U.S. dollar has diminished the appeal of precious metals, coinciding with reduced market liquidity due to India's Diwali holiday [3] Group 3: Future Outlook - Analysts expect that the long-term factors supporting gold prices, such as central bank purchases, remain intact, with predictions of gold prices reaching around $4,500 per ounce next year [5] - The current speculative long positions in gold and silver may have accumulated, making them more susceptible to corrections [5] - Market volatility during upward trends is seen as a normal occurrence, and analysts maintain a positive outlook on the gold market fundamentals [5]