【环球财经】国际金价上演“过山车”行情，投资者该如何选择？

Core Viewpoint - The recent significant fluctuations in international gold prices, which saw a rapid rise followed by a sharp decline, are primarily driven by technical adjustments and a decrease in market risk appetite due to easing geopolitical tensions [1][2]. Group 1: Market Dynamics - Gold prices surged from $3,600 to approximately $4,380 per ounce since September, leading to a high concentration of speculative positions and triggering profit-taking [2]. - The recent drop in gold prices, which fell below the $3,900 support level, represents a nearly 10% decline over five trading days, indicating a significant market correction [1]. - Analysts suggest that the current volatility is a "healthy adjustment" and presents a potential opportunity for investors to re-enter the market [3]. Group 2: Future Outlook - Major investment banks, including Bank of America and HSBC, have set gold price targets at $5,000 per ounce for the coming year, indicating a bullish long-term outlook despite recent corrections [3]. - The fundamental drivers supporting the gold bull market, such as the trend of "de-dollarization," remain intact, suggesting that gold prices may continue to strengthen in the future [4]. - Analysts expect that the market will remain sensitive to geopolitical developments, fluctuations in the U.S. dollar index, and changes in market risk preferences, leading to a period of high volatility [4]. Group 3: Investment Strategies - Investors are advised to maintain a diversified asset allocation strategy when investing in gold, focusing on risk mitigation and stable investment principles [4][5]. - For those considering physical gold investments, it is crucial to evaluate the investment channels carefully, particularly avoiding high-premium and low-liquidity gold jewelry [5].