国际黄金暂稳4100美元关口

Core Viewpoint - After experiencing a significant drop, international gold prices have stabilized above the $4,100 per ounce mark, following a volatile week where prices reached a historical high of $4,398 before falling sharply [2][3]. Price Volatility and Market Behavior - As of October 24, the London spot gold price was reported at $4,101 per ounce, with a daily decline of 1.06%. The week saw gold prices fluctuate dramatically, with a peak of $4,398 on October 20 and a subsequent drop of over 6% on October 21, marking the largest single-day decline in nearly 12 years [3][4]. - Despite high volatility, investor enthusiasm remains strong, particularly among younger demographics. Data from Ant Financial indicates that over 55% of online gold investors are from the post-90s and post-00s generations [3][4]. Investment Trends - The current trend among young investors is characterized by "small, frequent, and long-term" investments, with a preference for systematic investment plans (SIPs) rather than traditional speculative trading. Over 890 million people have initiated gold ETF investments, with over 40% being post-95 investors [4]. - Following the National Day holiday, there was a fivefold increase in searches for "gold" on Alipay, and the number of investors purchasing gold products surged to 1.8 times that of the same period before the holiday [4]. Institutional Insights - Despite the recent drop of over $300 in gold prices, the year-to-date increase remains above 50%. Institutions emphasize the importance of high volatility as a key consideration for investors [5][6]. - Analysts suggest that while central bank purchases and rising investment demand will support gold prices in the medium to long term, short-term adjustments and volatility risks should be carefully monitored [6][8]. Economic Indicators and Future Outlook - Market attention is focused on upcoming U.S. economic data, particularly the CPI report, which could influence the Federal Reserve's interest rate decisions and gold price movements [7]. - Long-term support for gold prices is expected from central bank purchases and a weakening U.S. dollar. Recent data shows record inflows into gold ETFs, with September seeing a $26 billion inflow [8][9]. Price Projections - Goldman Sachs maintains a target price of $4,900 per ounce for gold by the end of 2026, citing strong inflows into ETFs and a growing interest from various institutional investors as strategic diversifiers in their portfolios [9].