金荣中国：现货黄金收复盘中回吐，目前暂交投于4111美元附近

Fundamental Analysis - Gold prices experienced a significant drop, with a daily decline of 5.3% on October 21, closing at $4124 per ounce, marking the largest single-day drop since August 2020 [1][3] - The price of gold reached a low of $4083.15 during the day, falling nearly $300 from its intraday high, which has caused concern among investors [1] - Year-to-date, gold prices have increased approximately 60%, reaching a record high of $4381.21 on October 20, before the dramatic reversal [1][3] - The decline in gold prices is attributed to profit-taking by investors, reduced safe-haven demand, and subtle changes in the macroeconomic environment [1][3] Market Dynamics - The U.S. dollar index rose by 0.34% to 98.98, increasing the cost of gold for holders of other currencies, thereby suppressing demand [3] - Economists predict that the Federal Reserve will lower interest rates by 25 basis points at the upcoming meeting on October 28-29, with expectations for further cuts in December [3] - The sharp decline in gold prices is primarily driven by collective profit-taking at high levels, following a strong year supported by geopolitical uncertainties and central bank purchases [3][4] Geopolitical Factors - Recent optimistic signals regarding international trade, particularly comments from President Trump about a potential trade agreement with China, have eased market concerns about trade wars [4] - Expectations of a resolution to the Russia-Ukraine conflict have also diminished gold's appeal as a safe-haven asset [4] - Domestic political developments, including the ongoing government shutdown and negotiations to end it, have contributed to market uncertainty, further reducing safe-haven demand for gold [4][5] Technical Analysis - The daily chart indicates a significant bearish reversal, with gold prices breaking through multiple support levels, suggesting a potential reconfiguration of the market [7] - Short-term trading strategies may focus on resistance around $4200 and support levels near $4060 and $4000 [7]