金银：机构分歧、监管干预致短期波动加剧

Core Insights - The report indicates that while the long-term expectation of interest rate cuts by the Federal Reserve supports gold prices, Citigroup has turned bearish, projecting a price drop to $4,000, which increases market uncertainty due to institutional divergence [1][2] Market Dynamics - Recent regulatory actions have led to a sharp decline in the international precious metals sector, as overseas exchanges raised margin requirements and intensified oversight, causing significant selling pressure among long positions [1][2] - The failure to break through key resistance levels in the international market has resulted in domestic gold prices stagnating around the 1,000 mark [1][2] Short-term Outlook - The current market is characterized by a complex interplay of geopolitical expectations, policy directions, and regulatory interventions, leading to an anticipated period of high volatility and price fluctuations in precious metals [1][2]