金价暴跌引发套现潮，深圳水贝市场收回量激增五成

Core Viewpoint - International gold prices experienced a significant correction after a nine-week rally, marking the largest single-day drop since April 2013, with prices falling below $4,100 per ounce [1][4]. Price Trends - The COMEX gold futures fell by 2.25% this week, ending the nine-week consecutive rise and recording a weekly decline for the first time since August 22 [4]. - On October 16, COMEX gold prices surpassed $4,300 per ounce, reaching a historical high, but subsequently dropped over 6% on October 21, marking the largest single-day decline since April 2013 [4]. - Domestic gold prices also fell, with the price of gold jewelry in China dropping to 1,222 yuan per gram, a total decline of 72 yuan over four days [4]. Market Reactions - In Shenzhen's Shui Bei market, a noticeable trend of cashing out emerged, with retail gold merchants reporting a 50% increase in the volume of gold bars and jewelry being sold back due to fears of further price declines [8]. - Some investors opted to sell their gold jewelry, with one shop recovering 500 grams of gold items, although they incurred a loss of approximately 5,000 yuan [8]. Underlying Reasons - The market experienced a technical correction due to overbuying, as gold prices had been on a parabolic rise, leading to significant sell-offs [12]. - William Pulpra, chairman of the New York Commodity Exchange, indicated that the recent price drop was a typical "technical correction" after a period of excessive buying [12]. - Despite high inflation pressures, the market has fully priced in expectations of a 25 basis point rate cut by the Federal Reserve next week, while the fundamental outlook for gold as a store of value remains positive due to increasing global uncertainties and shifts in Fed policy [13].