金价，大反弹！

Core Insights - After a period of decline, international gold prices surged on October 29, with spot gold rising by 1.85% to $4025 per ounce and COMEX futures increasing by 1.49% to $4042 per ounce [1][5]. Gold Market Dynamics - The recent drop in gold prices was characterized as a "big plunge," with prices falling below $3900 on October 28. Domestic gold jewelry prices also saw significant reductions, with some brands dropping below 1190 yuan per gram [5]. - Analysts attribute the recent decline in gold prices to profit-taking by investors following a substantial previous increase, easing concerns over international trade tensions, and a rise in investor risk appetite [5][6]. - Market analysts suggest that the recent price adjustments are more about emotional corrections rather than fundamental shifts, indicating a potential for future price recovery [6]. Future Price Predictions - Representatives at the London Bullion Market Association (LBMA) annual meeting forecasted that gold prices could reach $4980 per ounce within the next 12 months, representing an increase of over 25% from current levels [6]. - A significant portion of LBMA representatives (40%) believe that gold will be the best-performing asset in the precious metals sector by 2026 [6]. - Major banks, including Bank of America and HSBC, have set gold price targets at $5000 per ounce for the following year, viewing recent price declines as healthy adjustments and investment opportunities [6]. Central Bank Demand - Over the past three years, global central bank demand for gold has increased by over 1000 tons, although most purchases have been concentrated among a few central banks [7]. - Analysts expect that as more central banks join the trend of gold purchases, this demand will provide long-term support for gold prices [7].