Group 1 - The core viewpoint of the news is that gold prices have declined significantly, with spot gold falling below $3980 per ounce, a drop of over 9% from the high on October 20 [1] - The main reason for the deep correction in gold prices is attributed to high implied volatility and profit-taking after a substantial increase, leading to a weakening trend in capital inflow [1] - The geopolitical risks, particularly in US-China relations and the Russia-Ukraine conflict, have shown signs of easing, which has influenced market pricing [1] Group 2 - Short-term gold prices remain relatively high with significant volatility, and a marginal decrease in geopolitical risks is noted [1] - Without unexpected positive factors, it is expected that London gold will consolidate and fluctuate until the end of the year, with potential for new highs in the first quarter of next year [1] - For gold prices to continue rising, two necessary conditions must be met: (1) implied volatility must return to levels seen in August-September; (2) new macroeconomic driving factors are required [1] Group 3 - Gold-related stocks have continued to decline, with Lingbao Gold down 4.27% to HKD 15.9, Jihai Resources down 3.55% to HKD 1.36, China Silver Group down 3.23% to HKD 0.6, and China Gold International down 2.65% to HKD 125 [2]
黄金股继续走软 现货黄金失守3980美元 机构预计年底前将盘整震荡
Zhi Tong Cai Jing·2025-11-04 20:03