黄金“疯牛”行情接近尾声？Truist Advisory：金价大幅下跌预示回调仍将持续

Group 1 - The core viewpoint of the articles indicates that gold has experienced its largest single-day drop since 2020, following significant gains in silver earlier this year, suggesting a market correction is underway [1][2] - Truist Advisory Services' Chief Market Strategist Keith Lerner notes that the recent sell-off in gold is not driven by a single factor, but rather a result of an unsustainable upward trend that is prone to reversal [1] - Year-to-date, gold has risen over 65%, with a recent acceleration in price that is more than 30% above the 200-day moving average, marking the largest deviation from trend since 2006 [1] Group 2 - Historical data shows that after significant single-day declines in gold, the median return over the following year is negative, with only about 40% of cases achieving positive returns [2] - Lerner emphasizes that such market conditions often indicate fatigue, leading to potential corrections or consolidation phases, although the long-term bullish factors for gold remain intact, including central bank purchases and geopolitical risks [2] - The strategy suggests that the current correction may persist, advising investors to be patient and wait for the market to digest recent gains, while maintaining an optimistic outlook on the overall upward cycle of gold [3]