Core Viewpoint - The gold market experienced a significant drop on the 22nd, with various gold and silver stocks plummeting due to a sharp decline in spot gold and silver prices, influenced by easing US-China trade tensions and potential resolution of the US government shutdown [1]. Market Performance - On the 22nd, Hunan Silver fell nearly 9%, hitting its daily limit down; Baoding Technology and Xiaocheng Technology dropped over 7%, while Hunan Gold, Western Gold, and Chifeng Gold fell over 5% [1]. - On the evening of the 21st, spot gold prices dropped 6.3%, marking the largest single-day decline since April 2013. Spot silver prices fell 8.7%, the largest drop since 2021 [1]. - COMEX gold futures closed down approximately 5% at $4138.5 per ounce, while COMEX silver futures fell 6.27% to $48.16 per ounce [1]. Economic Signals - White House Chief Economic Advisor Hassett indicated that the "shutdown crisis" is likely to be resolved within the week, contributing to the market's reaction [1]. - Citibank forecasts that the end of the US government shutdown and easing US-China trade tensions may lead to a consolidation phase for gold prices over the next three weeks, adjusting their outlook from bullish to bearish with a target price of $4000 per ounce for the next 1-3 months [1].
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