黄金“牛市刹车”，业内高管警告：准备迎接更深回调！

Core Viewpoint - The recent surge in gold prices has been deemed unsustainable, leading to a correction phase as the market eliminates speculative positions [1][3][4]. Group 1: Price Movements - Gold prices soared by 27% over the past seven weeks, reaching a peak of $4,381 per ounce on October 20, before declining over 9% from that high [3]. - Current gold prices have fallen back to around $3,960 per ounce after briefly recovering above $4,000 [1][3]. Group 2: Market Sentiment - Industry executives believe the recent price drop is a "healthy correction" that addresses the unsustainable rally, with expectations of further adjustments in the coming weeks [3][4]. - The World Gold Council's market strategist, John Reade, indicated that many in the industry are hoping for a deeper correction than currently observed [3]. Group 3: Investor Behavior - Investor demand has been a key driver for gold prices this year, as it is viewed as a hedge against geopolitical uncertainty, high government debt, and dollar depreciation [4]. - There is concern about whether retail investor enthusiasm can be sustained, as recent weeks have seen a surge in purchases of small gold bars and coins in Australia and Japan [6]. Group 4: Future Outlook - Major financial institutions, including HSBC, Bank of America, and Société Générale, have set gold price targets at $5,000 per ounce for the next year [5]. - The CEO of the London Bullion Market Association, Ruth Crowell, stated that gold is on a "robust upward trajectory" and is becoming a mainstream choice for investors [6].